Newell Palmer has today completed its 37th acquisition with the purchase of Newcastle-Under-Lyme based Adams Russell Ltd.
Adams Russell has been providing advice to clients located in and around the Stoke-on-Trent and Staffordshire areas for more than 26 years.
This is Newell Palmer’s forth acquisition of 2015 and strengthens the firm’s ambitious plans for growth.
The acquisition of Adams Russell brings an additional £50m of funds under management and 150 clients to the Newell Palmer firm.
Wolverhampton based Newell Palmer Group has more than quadrupled its FUM in the last five years, growing through acquisition and referrals, with a clear strategic plan. Newell Palmer is currently working to increase their FUM to £1bn within the next 3 years. Acquisitions to-date have ranged between £30k to £2m in consideration; meaning that if the client ethos of a firm is comparable to Newell Palmer then, there is no one too big or too small to fit into the group.
Speaking about the purchase, Financial Director of Newell Palmer, Kevin Homfray, said: “acquisitions form an integral part of our growth strategy for 2015 and beyond, we are always on the lookout for firms that fit well with our business model and Adams Russell Ltd is an excellent example of this”.
Nicolas Adams, Director of the acquired company, said: “after an extensive search to find a firm where I could relocate my clients with confidence; I met Newell Palmer. I know my clients will be in good hands and I will be working closely with Newell Palmer over coming months. I am confident that my clients will be impressed with the high quality service they will receive from a larger company equipped to handle their needs.”