£3 million MBO for Stoke wealth management firm

Wed, 23 Mar 2016 | MBO/MBI

A wealth management and financial planning firm based in Stoke-on-Trent has been taken over in a £3 million management buyout (MBO).

The founders of PSP Wealth Management, which started business in 2006 and provides independent financial advice, particularly in the area of occupational pension transfers, has been bought out by a team of senior managers in a lucrative deal.

Gareth Chell, Matthew Searle, Tim Vaughan and Richard Pateman pushed through the MBO, paying £3 million for the company founded by Peter Colley and Stephen Marshall, who have said they will now be exiting the wealth management firm.

Mr Searle, one of the managers, said: "This is a very exciting time for the business. We have worked very closely with Peter [Colley] and Stephen [Marshall] over the last four years as part of their succession strategy and are delighted to have completed the MBO.

"PSP Wealth Management has established an excellent reputation locally and we are focused on driving the business further forward and providing our clients with the best service.”

The Royal Bank of Scotland (RBS) provided funding for the deal, with additional support coming from Sedulo, a business and financial advisory company.

For more information on the subject of MBOs and other strategies, see what to look out for when buying a business.


Share this article



Latest Businesses for Sale

Airport Demand & Capacity Consultancy
South East, UK

The Company provides the airport industry with a wide range of capacity and demand consultancy services. The company can analyse, model, forecast and optimise the flow of people, baggage and vehicles throughout the airport environment, from airside t...

Asking Price: Offers Invited
Turnover: £1,309,000

Construction Company
Leeds, West Yorkshire, Yorkshire and the Humber, UK

Highly profitable Family Run Business, that has been in the same hands for over 20 years. Operating out of Leasehold premises the business is easily relocatable, many of the subcontractor workforce has been working with the company for many years. Of...

Asking Price: £1,900,000
Turnover: £1,709,427

LEASEHOLD


Phone & Computer Sales & Repair Business
Liverpool, UK Wide

This is a very exciting high end opportunity with many different income streams from phone, computer, tablet sales and repairs. The business has been trading for 8 years and enjoys a substantial turnover which is derived from shop sales selling phone...

Asking Price: £580,000
Turnover: £390,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
15
 
Nov
 

Carpetright agrees to shareholder takeover deal | BUSINESS SALE

Carpetright has agreed a deal to be taken over by its larges...

 
14
 
Nov
 

Scale manufacturer taken over in MBO | MBO/MBI

Weighing scale manufacturer Marsden Weighing Group has been ...

 
13
 
Nov
 

Brighton energy firm appoints administrators | ADMINISTRATION

Brighton-based utilities company Toto Energy has gone into a...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources