PE-backed Skerritts adds £1bn in AUM with Ellis Bates acquisition

Largest deal to date for Paul Feeney-led Chartered financial planner

Jenna Brown
clock • 1 min read

Skerritts is set to complete its largest acquisition deal so far with the purchase of Harrogate-based advice firm Ellis Bates Financial Advisers (Ellis Bates) adding more than £1bn in assets under management (AUM).

Skerritts, a Hove-based private equity-backed Chartered financial planning business, said the deal had gained regulatory approval and would complete on 30 September. It added the acquisition would boost its presence in the north of England as it "looks to accelerate its expansion nationally". In March 2021, Sovereign Capital Partners, a UK private equity ‘buy and build' specialist, made a £55m investment in Skerritts backing its acquisition strategy. The business has since bought IFA firms in Chester, Kent, Hampshire, Surrey and London. The Ellis Bates deal is the firm's eleventh since S...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Businesses' tax concerns reach highest levels since 2017

Businesses' tax concerns reach highest levels since 2017

National insurance hike outlined in Budget 'particularly damaging'

Eve Maddock-Jones
clock 06 January 2025 • 3 min read
Andrew Goodwin: Why 2024 served up a familiar investment lesson

Andrew Goodwin: Why 2024 served up a familiar investment lesson

Further twists and turns no doubt await in 2025

Andrew Goodwin
clock 03 January 2025 • 4 min read
Marcus Rashford's investment company at risk of closure

Marcus Rashford's investment company at risk of closure

Failing to produce accounts

Linus Uhlig
clock 03 January 2025 • 1 min read