Wealth supervisor Finli Group, previously Solomon Capital Holdings, has acquired Scottish Chartered Monetary Planners Clark Gillone for an undisclosed sum.
The agency was arrange in 1998 and is led by administrators David van der Hoeven and Graham Lennox.
Finli stated the acquisition – its fifteenth – will broaden its nationwide presence whereas offering key regional protection of Scotland.
Clark Gillone’s 11 advisers and 35 workers will be part of Finli, and the deal will add £815m AUA to the group. Clark Gillone has 3,000 particular person shoppers.
After the deal Finli will develop to 89 advisers, 329 workers, round 15,400 shoppers and £3.4bn AUA.
The acquisition was supported via a brand new debt facility from non-public credit score fund TDC LLP which has been put in place to assist Finli’s buy-and-build technique.
Finli Group was established in 2021 below the identify Solomon Capital Holdings by former Quilter Monetary Planning CEO Andy Thompson and CFO Darren Sharke.
Its goal is to turn into a distinguished Monetary Planning agency and so far Finli has acquired two basis platforms – Beaufort Group and Gale and Phillipson – in addition to 5 regional hubs and eight smaller acquisitions.
The Finli Group additionally owns You Asset Administration, an funding administration firm with £2.2bn in FUM.
Andy Thompson, chief government at Finli, stated: “It is a key step in increasing our presence throughout the UK, significantly in Scotland. Clark Gillone is a high-quality enterprise with a vastly profitable staff led by David and Graham. This new growth has been facilitated by our collaboration with TDC LLP.”
David van der Hoeven stated: “This transfer marks a key growth for Clark Gillone, as we search to advance our providers and utilise modern instruments and techniques as a part of the Finli imaginative and prescient.”
Finli is backed by non-public fairness agency JC Flowers & Co. The agency has invested greater than $18bn (£14.7bn), together with co-investment, in 66 portfolio corporations in 18 international locations throughout a spread of business sub-sectors together with banking, insurance coverage and reinsurance, securities companies, specialty finance, and providers and asset administration. It has $4bn (£3.15bn) of AUM.
JCF and Finli have been suggested by Many Waters Capital (debt advisory), Proskauer (authorized), Freeths (authorized due diligence) and Grant Thornton (monetary and tax due diligence). TDC was suggested by Pinsent Masons (authorized).
