Skerritts has acquired for an undisclosed sum the London-based IFA Black Swan Financial Planning, with assets under management of £540m.
The company has now made 10 deals since private equity firm Sovereign Capital invested £55m in 2021.
Combined with another recent significant acquisition, KMG in Horley, Surrey, this adds than £900m to Skerritts’ assets under management, and enhance the group’s presence in London and the South East of England as it continues to expand its national footprint.
Since Sovereign invested in Skerritts in 2021 a total of 13 acquisitions have been completed to date. In December 2023, Skerritts made its first entry into the North West market with the addition of Chadwick McLean, a Chester-based IFA.
Alex Hay, partner, Sovereign Capital Partners, said: “We are delighted to support Skerritts in these strategic acquisitions, which mark another milestone in their impressive growth journey.
“The addition of Black Swan and KMG significantly strengthens Skerritts’ presence in key regions and enhances their ability to provide exceptional financial advisory and wealth management services to clients across the UK. Our ongoing partnership with Skerritts exemplifies our commitment to backing ambitious businesses with the potential for substantial growth and development.”
