UK financial advice consolidator Amber River has been bought by private equity firm Stone Point Capital, it announced today.
The firms did not confirm a sale price, but Amber River has £13.6bn of assets under management and over 330 financial advisers. Citywire previously reported the deal was worth around £900m.
The transaction is expected to close this summer. Former private equity owner Penta Capital will retain a stake in the business.
Amber River CEO Mary-Anne McIntyre said: “We have become one of the leading financial planning firms in the UK supporting around 80,000 clients.
“We are thrilled to enter our next phase of development and growth with Stone Point, and we are very pleased that Penta have chosen to continue with us on the next stage of our journey.”
