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Newell Palmer seals 35th acquisition

Newell Palmer seals 35th acquisition

Newell Palmer has completed its 35th acquisition with a deal for Cheshire-based Stephen Dagnall Financial Management.

This is the second acquisition for Newell Palmer this year, following the recent purchase of Jenner Financial Management, and brings an additional £56m of funds under management and 291 clients.

Kevin Homfray, the firm’s financial director, said that acquisitions form an integral part of the growth strategy for 2015 and beyond.

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“We have been acquiring firms for the last 12 years with the support of Allied Irish Bank and this acquisition marks the second of four acquisitions already agreed over the next six months,” he added.

Newell Palmer has more than quadrupled its funds under management to £650m in the last five years through a string of acquisitions and referrals.

The latest acquisition has been in business for over 30 years, with the eponymous managing director Steve Dagnall stating he is confident that his clients will benefit from the move and will “continue to enjoy a high quality service from a larger company equipped to handle their needs”.

peter.walker@ft.com