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. In 2022, Skerritts completed four acquisitions, adding new offices in Kent, Hampshire and London and c.£560 million of AUM. In January 2023, another acquisition was announced with the purchase of Kent-based Financial Planning Firm, Equinox Wealth Limited, which brought another £62 million of AUM.
Today we are delighted to announce the completion of another acquisition, Horsham-based Financial Planning Firm, Mercier Allen & Associates Ltd. This will further extend Skerritts presence in the region, as the group looks to continue to grow across the South of England.
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 Mercier Allen to the group enables us to increase our presence in Sussex and adds Neil and his staff to our great team of people. We very much look forward to working with them.”
Neil Mercier, Director of Mercier Allen says:
“As the Financial Services industry has moved at a fast pace over the past few years, especially in areas such as technology and digital solutions, I have spent some considerable time looking thoroughly at potential companies that could complement us in these areas. I considered the options very carefully to ensure that our valued clients are well looked after going forward and after extensive research, it was obvious that Skerritts are the best choice for the safeguarding of our clients’ financial future.”
The purchase of Mercier Allen and Associates brings in an additional £73 million of AUM and brings the number of deals that the Skerritts Group has completed since the Sovereign investment to six.
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