Thistle Initiatives supports Skerritts Group to acquire PS Financial Advisers Ltd
Thistle Initiatives provides support to Skerritts Group to continue its growth with the acquisition of IFA PS Financial Advisers Ltd.
The Investments team at Thistle Initiatives was engaged by Skerritts Group on the acquisition of the Hampshire-based Financial Planning Firm, PS Financial Advisers Ltd to undertake the regulatory due diligence of the transaction in August 2022.
Skerritts is an independent wealth manager and financial adviser based in Brighton and Hove. A large investment in Skerritts worth £55 million was completed by UK private equity buy & build expert Sovereign Capital Partners in March 2021.
Skerritts has also recently acquired Geoffrey Craig Limited, Saffron Wealth Management, and chartered IFA firm Bradbury Hamilton, making a total of four acquisitions in 2022.
Richard Skerritt, CEO of Skerritts says: “As part of our strategic plans to increase our presence in the Southeast, adding a high-quality firm such as PS to the group enables us to expand into Hampshire and adds to a great team of people, led by Geoff, that we very much look forward to working with.”
The purchase of PS Financial Advisers Ltd brings in an additional £60 million of AUM and brings the number of deals that the Skerritts Group has completed since the Sovereign investment in 2021 to seven.
James Dingwall, Founder and CEO at Thistle Initiatives said:
“We'd like to congratulate the Skerritts team on securing this most recent purchase and wish them good luck as they move forward. Working with Richard and the entire team on this has been a pleasure and we look forward to continuing to work alongside them.”