IFA consolidator secures tailored loan for buy-and-build strategy
Wed, 18 Oct 2023 | BUSINESS NEWS
Financial planning group MRW Group has secured a tailored loan from OakNorth, in a deal that will enable the company to ramp up its buy-and-build growth strategy. After securing the loan, the company announced the acquisition of three independent financial advisers (IFAs).
The Somerset-based firm has acquired Emet Financial Services, Merlin Wealth Planning and Mayfayre Financial Services, which it will now bring together under a newly-established, independently-owned holding company. Following the acquisitions, Merlin Wealth Planning founder James Moyses and Adam Royce will join MRW Group.
Commenting on the acquisitions, MRW Group Director Steve Winter said: “The merger of Emet, Merlin, and Mayfayre brings together three established firms that share the same client-led values, with a personalised approach built on trust and stability.”
MRW Group provides services including independent financial planning, investment and pensions advice. It has more than 1,500 clients, which include both individuals and large corporates, and has over £150 million in assets under management (AUM).
The group has offices in Somerset, Cambridgeshire and Buckinghamshire and has completed 10 acquisitions since 2019, during a period of intense consolidation across the UK’s wealth management sector. The group is now targeting further expansion and will use the new tailored facility from OakNorth to accelerate its acquisition plans.
Steve Winter said: “This funding from OakNorth is an exciting next step in our ambitious and proven buy-and-build strategy. The OakNorth team invested significant time and effort to understand a complex transaction, with an outstanding level of commitment and service that we recognise from our own business.”
OakNorth Director of Debt Finance Stewart Haworth added that the transaction was “a clear demonstration of the breadth and depth of experience we have at OakNorth, and our ability to support businesses with complex transactions.”
Haworth continued: “Adam, James, and Steve have almost 70 years of IFA and M&A experience between them, so have a clear understanding of the market dynamics and opportunities. I have no doubt MRW’s buy-and-build strategy will be a huge success, and we look forward to supporting them on future acquisitions.”
Read about M&A in the financial services industry
Find out about different ways of generating funding for acquisitions amid tighter financing conditions
Share this article
Latest Professional and Financial Businesses for Sale
Chartered Architects Practice
London, UK
Provides full and partial architectural services based on RIBA work stages 0–7. Able to advise on development potential of sites. Close relationships with local authorities enabling the provision of advice on local and national planning policies and...
LEASEHOLD
ICT Support & Consultancy Services
UK Wide
The business currently provides its services to 22 active clients providing circa 40% contracted revenue. Two out of three shareholders wish to remain with the business, the Managing Director is looking to retire and would need the following roles re...
LEASEHOLD
Well-Reputed Employment Business
UK Wide
The company provides temporary, permanent, and headhunting recruitment services to the aviation, space, and defence industries, offering a complete solution. Priding itself on its high level of in-house knowledge and expertise, the company has an est...
LEASEHOLD