Mon, 19 Dec 2022 | BUSINESS SALE
Independent financial adviser (IFA) Furnley House has expanded with the £3.9 million acquisition of wealth management firm CDG Financial Services. The acquisition comes amid a wave of M&A activity in the hugely fragmented UK wealth management sector.
Based in Nottingham, CDG provides clients with a range of services, including wealth management, financial advice and mortgage advice. The company is partnered with an array of accountants, solicitors and HR professionals.
Furnley House is based in Leicester and is part of the Superbia Group. The company has over £450 million in assets under influence and provides clients with services including fund management, financial advice and investment research.
The acquisition was funded through investment from fintech bank Shawbrook. Shawbrook stated that Furnley House chose the bank due to its ability to swiftly supply the IFA with a flexible line of credit, enabling it to proceed immediately with the acquisition, and due to its strong knowledge of the financial services sector.
Another key factor was the bank’s willingness to establish a long-term relationship with Furnley House, through which it will support the company’s growth via a long-term partnership. Furnley House is looking to expand both acquisitively through M&A and organically and Shawbrook is also supporting another IFA acquisition which Furnley House expects to close in the first quarter of 2023.
Furnley House Managing Director Stefan Fura said: “Our partnership with Shawbrook has been vital to support Superbia Group as it enters a new era of expansion – extending the capabilities of our offering, and reach of our services.”
“Shawbrook’s ability to quickly onboard us and provide a line of credit made them an obvious choice when assessing possible lenders. The team also reassured us that deadlines would be met, enabling us to proceed with the acquisition with minimal issues.”
Shawbrook’s Director of Corporate Lending Steve Armstrong added: “Furnley House has an experienced management team and a history of completing successful acquisitions. It is a pleasure to be able to support them as they continue to expand their business.”
“With a strong presence in their market already and strong ambitions for the future, we’re looking forward to seeing and supporting their journey.”
Shawbrook was recommended to Furnley House by the Heligan Group. Heligan director Matt Croker commented: “Furnley House is an ambitious and high-growth business being backed by a lender who recognises the achievements of Stefan and his team to date and their ability to continue their buy and build strategy. It was great to be involved in this phase of their story and we look forward to seeing them continue to grow with Shawbrook’s support.”
Find out what's driving the rapid increase in wealth management M&A.
Find businesses for sale here.
If you are looking for an exit, we can help!.
An exciting opportunity to acquire a well-established independent financial advisor firm with £125m in funds under management in Wiltshire.
Although profitable, this business has quality personnel who can continue working, leading to a smoother transition post sale.
This firm represents a superb opportunity to establish a hub, with staff and offices already in place.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.