£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

Consulting Engineers Focused on the Built Environment
London, UK

Unusual opportunity to acquire this national and well established, full service Mechanical & Electrical consulting engineering company. Offers invited.

Asking Price: £2,700,000
Turnover: £5,800,000

LEASEHOLD


Freight Brokerage Services
UK Wide

Works with a network of reliable hauliers to provide comprehensive and reliable logistics solutions on a national basis. Offers invited.

Asking Price: Offers Invited
Turnover: £420,000

RELOCATABLE


Food Manufacturer Specialising Flatbread Products
North of England, UK Wide

Has established a prominent position with clients in its industry due to its prestigious portfolio. Operates from two leasehold premises. Offers invited.

Asking Price: Offers Invited
Turnover: £671,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
23
 
May
 

Fintech company Loot collapses into administration | ADMINISTRATION

After failing to secure further backing from the Royal Bank ...

 
22
 
May
 

Spike in M&A activity in the education sector | BUSINESS SALE

In recent months, the education sector in the UK has witness...

 
22
 
May
 

Jamie Oliver restaurant empire collapses into administration | ADMINISTRATION

Celebrity chef Jamie Oliver, who shot to fame after campaign...

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