Wed, 10 Mar 2021 | BUSINESS SALE
Private equity firm Sovereign Capital Partners has made a £55 million investment in Brighton-based wealth management firm Skerritts, which will enable the company to grow through acquisitions.
Skerritts, which is already an acquisitive operator with eight takeovers to its name, will now benefit from Sovereign’s buy and build strategy. Operating out of Hove and with a further location in London, Skerritts manages around £1 billion in funds for 4,000 clients.
Sovereign will work with Skerritts’ management team, which is headed by founder Richard Skerritt. Also joining the Skerritts management are Andrew Fisher, who becomes a non-executive director, and new Chief Financial Officer Charles Sparrow.
Richard Skerritt commented: "Sovereign’s investment and expertise in financial services gives us a fantastic opportunity to accelerate our growth ambitions and enhance our capabilities.”
"I am very proud of the business which I established thirty years ago from a home office. As a team, we are dedicated to providing the highest level of care to all our clients. We look forward to further enhancing our capabilities and continuing to deliver the same level of service and care we are recognised for by our customers."
Sovereign partner Alex Hay said: "Skerritts is a multi-award-winning business which has deservedly earned a first-class reputation in the industry. Richard and his team have consistently grown the company and made a number of acquisitions to further consolidate the firm's position in the South East.”
"With the development of a leading in-house investment management solution alongside, we consider the business to be strongly positioned for future growth. The market is highly fragmented, and we look forward to partnering Richard and the expanded team to develop Skerritts' offering and geographic footprint through strategic acquisition."
Sovereign Capital Partners was recently featured in this piece on pursuing acquisitive growth with private equity backing.
Read more about M&A in the advice and wealth management sector.
Find businesses for sale here.
If you are looking for an exit, we can help!
Single site Solicitor practice based in the Beds, Bucks and Berks borders with good profits on a turnover of £350,000.
LEASEHOLD
This is a fantastic opportunity to purchase a positively branded financial advisory firm with an innovative and contemporary approach to business whilst retaining traditional standards of excellence in client service.
LEASEHOLD
Provides a range of online and face-to-face training programmes on modules including, but not limited to, financial modelling, business valuation, corporate credit, bank analysis and capital structuring. Caters to 25 active international clients and...
RELOCATABLE
19
|
May
|
Knights continues acquisition-lead growth strategy with £11.5m deal for law firm | BUSINESS SALE
Legal services company Knights has acquired Portsmouth-headq...
18
|
May
|
Insolvencies forecast to surge 37 per cent in 2022 as inflation hits 40-year high | BUSINESS NEWS
Businesses in the UK look set to come under continuing press...
18
|
May
|
Cotswolds pub in prime tourist town comes to market for £1.3m | BUSINESS SALE
The Mousetrap Inn in the popular Cotswolds tourist town of B...
Sign up to receive our acquisition alert emails to get your FREE guide
14
|
Oct
|
PE-backed Premier Park expands with another acquisition | BUSINESS SALE
Premier Park, a car park management business backed by priva...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources