Skerritts are Independent Financial Advisers and Wealth Managers with their head office in Brighton and Hove. In March 2021, Sovereign Capital Partners, a UK Private Equity Buy & Build specialist completed a significant investment in Skerritts worth £55 million. The objective of the investment is to develop and expand the business through a strategy of organic and acquisitive growth.
Previously, Skerritts had made nine acquisitions but with Sovereign’s backing, a more ambitious plan to grow was introduced. So far this year, Skerritts has completed three further acquisitions with the purchase of Geoffrey Craig Limited, Saffron Wealth Management and Chartered IFA Firm Bradbury Hamilton. Together they’ve roughly added £480 million of AUM.
Skerritts has announced the completion of another acquisition of Hampshire-based IFA PS Financial Advisers.
Richard Skerritt, CEO of Skerritts says: “As part of our strategic plans to increase our presence in the South East, adding a high quality firm such as PS to the group enables us to expand into Hampshire and adds a great team of people, led by Geoff, that we very much look forward to working with.”
Geoff Reed, Director of PS Financial Advisers says: “As the financial services market continues to evolve, we made the decision that we needed to be part of a larger group, with the extra benefits and resources that this brings. After a lot of research, we are very confident that Skerritts is the stand-out partner for us and will help us to invest in and grow the office, whilst continuing to offer our clients the high level of service they are used to. This is a very exciting time for us.”
The purchase of PS Financial Advisers Ltd brings in an additional £60 million of AUM and brings the number of deals that the Skerritts Group has completed since the Sovereign investment to seven.
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Louise Jeffreys is managing director of Gunner & Co, an IFA broker with values based on strong relationships built on trust, credibility and value.
Gunner & Co. specialise in IFA sales, IFA business sales, retiring IFAs and IFA client bank sales.