Milecross Financial, has acquired Dundee-based Osprey Financial Services, adding £30 million of assets and around 600 clients to the national advice firm.

Osprey Financial Services offers advice across pensions, investments, mortgages and protection.

The business will be fully integrated under the Milecross umbrella with all staff retained and clients transferred.

Chris Thorndycraft, Chief Commercial Officer at Milecross, said: “Knowing which acquisition opportunities to pursue is never easy, however, the cultural and geographical fit, plus the great people at Osprey, made this an easy decision for us.

“Their holistic approach, across all advice areas, mirrors ours, which will ensure a smooth integration between the two businesses.”

Osprey Financial Services Principal, Mike Smith commented: “There was already a good working relationship between the two businesses, and the geographical fit was obvious. Milecross’ track record, having completed a large number of acquisitions in the recent past  also provided us with tremendous comfort that the deal would be completed smoothly.”

Milecross said this is one of several acquisitions it has planned for 2024. It aims to add “high-quality businesses” in existing locations.

Milecross chief executive and founder Paul Dalzell said: “Milecross has acquired over a dozen practices over recent years, and we expect to complete three or four further acquisitions in 2024, adding around £250m of assets under management.”

 

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