News

5
Jul

Perspective back on the acquisition hunt

Following a restructure late in 2014, and no acquisition in 2015, Perspective has been reported to have secured a refinancing deal with bank NatWest, raising £10.1 million to fund future growth – both organic and acquisitions.
It’s been a bumpy couple of years for the national consolidator, with a failed flotation in 2013 which resulted in pre-tax losses of £5.4 million.  The company bounced back quickly though, posting pre-tax profits of £830,000 in 2014.
The restructure in 2014 included an injection of £6 million into the business by executive Chairman Paul Hogarth, private equity financier Mosaic Capital and a further 20 advisers.
Moving forward, Hogarth is reported to be looking to acquire retiree client banks, with a national reach:
‘We have 18 trading offices across the UK each with an interest in exploring options for a retiring adviser seeking a home for their client bank,’ he said.
As with a number of businesses with quasi-network set ups, he’s also reported to state he’ll look to buy Perspective ‘associate members’ – businesses that have joined Perspective for compliance provision.