Wed, 14 Aug 2024 | BUSINESS SALE
National financial planning business Wren Sterling has established a presence on the South Coast of England with the acquisition of a company based in Fareham. Wren Sterling’s acquisition of In Focus Group is the firm’s third deal of the year so far.
The acquisition adds £450 million in assets and around 2,500 clients to Wren Sterling’s rapidly expanding business, with In Focus’ Fareham office set to become the company’s new Solent office on the South Coast.
In Focus is led by Managing Director Nick Stewart and is comprised of two companies that the group previously acquired: Certus and Hughes Carne. Following the acquisition, nine advisers and ten support team members will transfer to Wren Sterling.
James Twining, Chief Executive of Wren Sterling, said that In Focus’ growth, achieved through “careful acquisition but also high levels of entrepreneurialism”, “aligns with our strategy to give our advisers the freedom to grow their business.”
He continued: "As well as drive growth, acquisitions such as this enable us to bring highly talented people into our business who bring a range of expertise, experience and insights that we and our clients can benefit from.”
"The south coast is an important strategic location for us too. It gives us the ability to expand across Southampton, Portsmouth and the surrounding area."
In Focus Group Managing Director Nick Stewart said that the deal “made a lot of sense” for the company and that Wren Sterling’s structure and resources “will allow us to continue to grow, whilst focusing on delivering high quality personalised advice and excellent client service.”
He continued that Wren Sterling’s experience completing M&A deals enabled the transaction to go through with minimal disruption for clients and added: "We have the support to expand the Solent office in future once we're settled, so I'm optimistic about the future of the business and excited to get started."
Wren Sterling has been backed by New York-based private equity firm Lightyear Capital, which specialises in financial services investments, since undergoing a secondary MBO in December 2021.
Over recent years, the company has seen significant acquisitive expansion, with the deal for In Focus Group following the acquisitions of Kent-based Howe Maxted Group’s financial planning division and Newcastle-under-Lyme-based TW Financial Planning earlier this year.
The company completed a number of acquisitions prior to 2024, with major transactions last year including Guildford-based IFA Messer & Matthews, a deal for a majority stake in Cornwall-based The Stockdale Group and Northern Ireland-based Ralston Bennett Financial Planning and Aspects Financial.
Read more about the ongoing surge in financial planning consolidation
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