Consolidator completes 37th deal bringing £50m of funds

Consolidator completes 37th deal bringing £50m of funds

Newell Palmer has completed its 37th acquisition with the purchase of Newcastle-Under-Lyme based Adams Russell Ltd.

The firm has been providing advice to clients located in and around the Stoke-on-Trent and Staffordshire areas for more than 26 years and the deal brings an additional £50m of funds under management and 150 clients to Newell Palmer.

The fourth deal this year means that the group has more than quadrupled its funds under management in the last five years, as part of plans to reach to £1bn within the next three years.

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Newell Palmer financial director Kevin Homfray said: “Acquisitions form an integral part of our growth strategy for 2015 and beyond, we are always on the lookout for firms that fit well with our business model and Adams Russell is an excellent example of this.”

Nicolas Adams, director of the acquired company, said her clients will be in good hands as they work closely with Newell Palmer over coming months.

In August, Newell Palmer completed its 36th deal with the purchase of Cheshire-based adviser Vale Financial Services, for an undisclosed sum, following the purchase of Stephen Dagnall Financial Management in April.