Ex-CEO of Coutts and Towry Group joins the firm as non-executive chair

UK private equity firm Sovereign Capital Partners has backed Hove-headquartered IFA and wealth firm Skerritts in a deal worth £55m ($77m, €64m).
The deal value includes “follow-on funding to help the company’s strategic acquisitions”.

The firm has previously made “eight small acquisitions”. Founded in 1990, Skerritts provides financial planning and investment management services, and currently looks after around 4,000 private clients as well as corporates with a team of 40 staff.

Skerritts manages approximately £1bn of clients’ funds, with its discretionary service delivered through the company’s in-house investment management solutions. In addition, the IFA firm will be delivering a white label platform solution through technology company Hubwise.

Read more/Source: International Advisor