The acquisition of AnaCap Financial Partners by Novia Financial has completed. This marks AnaCap’s third acquisition in the wealth management platform industry since 2019.
There will be a number of management changes within Novia following the acquisition. Most significantly, Peter Cartwright and Robert Massey, who are respectively the head of private equity and managing director at Anacap, will join the board of directors at Novia. Meanwhile, current chief executive at Novia, Bill Vasilieff, will step down this June, with Patrick Mill to replace him.
Mr Vasilieff said:
“These are very exciting times for the business. It marks the start of the next stage in the Novia financial journey. Novia is in great shape with our assets under management having surpassed the £9bn figure for the first time in our eleven-year history.
“Sales for Q4’20 and Q1’21 were also at a record high despite challenging conditions and our EBITDA/profit figures remain strong. AnaCap bring substantial investment and operational expertise, which will be instrumental in taking the business forward.”
He added:
“The whole Novia team is absolutely delighted to be part of this dynamic organisation and looking forward to the next chapter in its development. I would like to personally extend a huge thank-you to the board and the Novia team for all their hard work and vision.
“Congratulations also to Keith Furniss who has been with the business for eight years. His experience and drive will help shape the road map going forward.”
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