Sovereign Capital Partners, a UK private equity Buy & Build specialist, has backed Skerritts, a successful Independent Financial Advisory (IFA) and Wealth Management business, in a deal worth GBP55 million
Sovereign is partnering the management team led by founder Richard Skerritt, to develop the business through a strategy of organic and acquisitive growth.
Founded in 1990, Skerritts provides financial planning and investment management services, and currently looks after c4k private clients as well as corporates. Headquartered in Hove, South Coast of England, and with an office in the City of London, the business has a team of c40 staff.
Skerritts manages cGBP1 billion of clients’ funds. Their discretionary service is delivered through the company’s in-house investment management solutions; these include a range of Model Portfolio Strategies and Open-Ended Investment Funds. In addition, Skerritts will be delivering a white label platform solution through platform technology company Hubwise, further developing its vertical integration opportunities.
Source: Private Equity Wire
