Skerritts buys Kent-based IFA with private equity backing

Skerritts buys Kent-based IFA with private equity backing

Skerritts has acquired Kent-based Equinox Wealth with backing from a private equity firm.

Skerritts announced today (January 5) that a £55mn investment from Sovereign Capital Partners has allowed it to expand its presence in Kent with the IFA purchase.

The deal will bring an additional £62mn in assets under management to the group, in its fifth deal since the investment.

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Chief executive officer of Skerritts, Richard Skerritt, said: “As part of our strategic plans to increase our presence in the South East, adding a high-quality firm such as Equinox Wealth to the group enables us to increase our presence in Kent.”

Conrad Whittingham, director of Equinox Wealth, added that after 15 years growing a successful business and looking to plan for the next 15 years, it was time to be part of a larger group.

“Skerritts has shone through as the perfect like-minded partner for us and will help us to invest in and grow the business going forward, enabling us to offer our clients an even higher level and breadth of service.”

Skerritts acquired four firms in 2022, including Geoffrey Craig Limited, Saffron Wealth Management, Bradbury Hamilton and PS Financial Advisers Limited.

Those four acquisitions added £560mn to Skerritts’ assets under management.