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.
Il Bacio Express, an authentic Sardinian restaurant which was established by our client in 2000. Our client is now looking forward to moving back to Sardinia. Il Bacio Express opened in 2000 as a pizza and pasta café. Since then the business has grow...
LEASEHOLD
Specialises in providing complete, responsive loss adjusting services for property, motor, goods in transit and liability insurance claims. The shareholders are offering the business for sale due to their retirement plans. Offers invited.
FREEHOLD
Gas leakage repair solutions and pipeline corrosion protection to the utilities industry. Strong second-tier management team in place able to run the day-to-day operations of the business. Offers invited.
LEASEHOLD
|
22
|
|
Jan
|
Jewellery retailer enters administration | ADMINISTRATION
A Nottingham-based jewellery and watches company has fallen ...
|
19
|
|
Jan
|
Luxury lodging group enters administration | ADMINISTRATION
An Essex-based company which operates eight luxury lodge par...
|
17
|
|
Jan
|
Fine paper business enters administration | ADMINISTRATION
Arjowiggins UK, which operates a number of trading companies...
Sign up to receive our acquisition alert emails to get your FREE guide
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