The private equity team at premier regional law firm Foot Anstey advised the management of Succession Group, one of the UK's largest privately owned wealth management businesses, on the sale of 50.1% of the business to private equity group Inflexion.
Founded in 2009 by four Directors, including CEO Simon Chamberlain and Corporate Director Paul Morrish, Succession delivers bespoke financial advice to private and corporate clients alongside operating a client asset custody platform. The highly experienced management team have created a post-RDR (Retail Distribution Review) integrated wealth management business of scale, currently employing over 110 people across the UK.
Inflexion's investment will enable the Succession management team to deliver their vision of creating the UK's largest independent wealth management business through a focused 'buy & build' programme.
Further funding will be made available by Inflexion to Succession to fund their continued acquisition of their membership base.
Paul Morrish commented, "This was a hugely important transaction for the Succession Group and we were immensely impressed with Foot Anstey's contribution to making it happen, not just the quality of advice, but also how they invested the time to understand our business and way of working and delivered a highly effective, bespoke, commercially focused service in what was often a complex and fast moving transaction. The team worked seamlessly and provided the level of advice and service one would expect from a City of London firm, working effectively with both the various Succession boards and our team of advisers.
We look forward to continuing our relationship with them as we work to deliver our vision of creating the UK's largest independent wealth management business through a focused 'buy & build' programme."