Thistle Initiatives supports Cairngorm Capital and Verso with the acquisition of CDC
March 23, 2022
Congratulations to our client Cairngorm Capital Partners LLP (Cairngorm Capital) and its portfolio company Verso Wealth Management (Verso), for completing its acquisition of CDC Wealth Management Limited (CDC).
The Investments team at Thistle Initiatives were engaged by Cairngorm Capital and Verso to undertake the regulatory due diligence and assessment of CDC’s compliance framework to mitigate the regulatory compliance risk attached to the transaction.
Andrew Fay, Verso’s Chief Executive said, “I am delighted to welcome all at CDC to the group. It is an exciting time to join Verso as our plans begin to gather pace. With the support of our strategic partners, Cairngorm Capital Partners and their buy, build and transformation expertise, we are pursuing an ambitious IFA consolidation plan and accelerated growth strategy, to build a market leading, national wealth management group. CDC forms an important part of this.”
Neil McGill, Managing Director, who led Cairngorm Capital’s team on this investment, said, “We are delighted to be able to support Verso’s continued growth. CDC is an excellent company with a well-deserved reputation for outstanding service. It demonstrates all that we like in a partner firm – strong performance, differentiated service and an excellent management team.”
James Dingwall, Founder and CEO at Thistle Initiatives said:
“It was a pleasure to work with the Cairngorm Capital and Verso team to enable an assessment to be undertaken which facilitated this transaction. We look forward to working with John Dixon and Sue Butterworth and the rest of the Cairngorm Capital and Verso team on future acquisitions. From the entire Thistle Initiatives team, we wish them all the best on their next venture!”