Brighton and Hove-headquartered IFA group Skerritts has acquired Horsham-based financial planning firm Mercier Allen & Associates 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 Mercier Allen and Associates brings in an additional £73m ($89m, €83m) of assets under management.
Richard Skerritt, chief executive of Skerritts, said: “As part of our strategic plans to increase our presence in the south east, adding a high-quality firm such as Mercier Allen to the group enables us to increase our presence in Sussex and adds Neil and his staff to our great team of people. We very much look forward to working with them.”
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 already made one acquisition in 2023 with the purchase of Kent-based Equinox Wealth.
The Skerritts Group has completed six acquisitions since the Sovereign investment.
