Chartered UK financial adviser and wealth manager Skerritts has acquired Horley-based financial planning firm, KMG Independent Limited and its sister firm KMG Investment Management Limited.
The deal would enhance the Hove-headquartered firm’s presence in the South East of England as the group looked to accelerate its expansion nationally, Skettitts said in a statement on 8 July.
In March 2021, Sovereign Capital Partners, a UK private equity Buy & Build specialist, completed a significant investment worth £55m to develop the business through a strategy of organic and acquisitive growth, which has seen the addition of new offices in Kent, Hampshire, Chester and London.
The purchase of the KMG companies adds over £400m of AUM, and brings the number of deals that the Skerritts Group has completed since the Sovereign investment up to nine.
Paul Feeney (pictured), CEO of Skerritts, said: “I am delighted to welcome the great team at KMG to the Skerritts Group. This takes us one step closer to achieving our mission of becoming Britain’s Premier Chartered Financial Planner.”
Patrick McIntosh, director of KMG, said: “With almost 50 years in the industry, I have run KMG since the late 1980’s. With this in mind I have been looking ahead to secure the future of the company and team to ensure our current clients and their families are looked after for many more years to come.
“I have spent some considerable time looking at potential companies that could complement us in the relevant areas. Having then weighed thoroughly the various options, I am very pleased we have agreed to become part of the Skerritts Group as I believe that they share the high standards that I always aim to set.”
