Beaufort Group acquired by US private-equity backed firm

Solomon Capital has acquired Beaufort Group, a national advice company headquartered in Redhill. 

Solomon Capital is an international consolidator which is backed by JC Flowers, the New York private equity firm. The consolidator is in its first phase of building scale – attempting to reach 50,000 clients, spearheaded by its buy-and-build strategy.

Under the terms of the deal, Solomon Capital will own 100% of the share capital of both Beaufort Financial and YOU Asset Management, formerly known as Beaufort Investment. Meanwhile, Derrick Dunne, Beaufort Group CEO, and Simon Goldthorpe, co-chairman, will join Solomon Capital’s team of principals. The Beaufort and YOU branding will remain in place.

Mr Goldthorpe commented: “The deal with Solomon is a positive, natural, and planned next step for the business and one about which we are extremely excited.

“We partnered with Solomon because the quality and vision of its leadership team, combined with the strength and track record of its financial backer, will provide us with the platform to set new standards in how financial advice is delivered in the UK.”

Solomon Capital CEO Andy Thompson said: “Over the years, Simon, Derrick, Andrew Bennett and the team have built tremendously successful businesses in Beaufort Financial and YOU, earning great reputations in the process.

“The complimentary businesses provide a significant and strong set of foundations on which we can build, with a shared vision for the future. The talented professionals they employ and the proposition they have developed is second to none.”

The value of the deal has not been disclosed.

Join our bespoke webinar on the 7th of July to learn more about the tax and legal implications of selling your business. Book your place here.