Nottingham-headquartered Wren Sterling has acquired Ilkley-based financial advisory firm White Wells Investments.
The financial terms of the deal were not disclosed.
White Wells has around £50m (£68m, €57m) of client assets under advice.
According to the terms of the deal, White Wells principal Michael Dunn will join Wren Sterling as an employed adviser.
The acquisition is Wren Sterling’s first transaction of 2021 and comes on the back of funding secured from Dunport Capital Management in 2020, which will enable the advice company to make further M&A deals throughout the year.
Acquisition strategy
Ian Halley, Wren Sterling chief executive, said: “I’m delighted to welcome Michael to Wren Sterling.
“He has built an excellent business over many years with a loyal client bank, which makes White Wells exactly the sort of well-run advice business I want to add to Wren Sterling.
“Wren Sterling has gone from strength-to-strength over the last twelve months with two excellent acquisitions completed and we have continued to grow in this tough trading environment.
“We will continue to make acquisitions of high-quality businesses in the year to come.”
