Brighton and Hove-headquartered IFA group Skerritts has acquired Kent-based financial planning firm Ambrose Fisher for an undisclosed sum.
The deal will further extend Skerritts presence in the region, as the group looks to continue to grow across the south of England.
The purchase of Ambrose Fisher brings in an additional £62m ($77m, €72m) of assets under management (AuM).
Paul Feeney, chief executive of Skerritts, said: “Adding a high-quality chartered financial planning firm such as Ambrose Fisher to the group enables us to not only increase our presence in the south east, but also moves us one step closer to becoming Britain’s premier chartered financial planner.”
Acquisition spree
The deal comes two years after private equity firm Sovereign Capital Partners completed a significant investment in Skerritts worth £55m.
The objective of the investment was to develop and expand the business through a strategy of organic and acquisitive growth.
Prior to the PE-backing, Skerritts had made nine acquisitions, but has ramped up its growth plans with Sovereign’s investment.
In 2022, Skerritts completed four acquisitions with the purchase of Geoffrey Craig, Saffron Wealth Management, Bradbury Hamilton and PS Financial Advisers.
The firm has now made three acquisitions in 2023 after the purchases of Kent-based Equinox Wealth and Horsham-based Mercier Allen & Associates for undisclosed sums.
The Skerritts Group has completed seven acquisitions since the Sovereign investment.
