European PE agency buys Ascot Lloyd from US proprietor

European personal fairness agency Nordic Capital has obtained regulatory approval to finish its acquisition of Monetary Planning agency Ascot Lloyd from Oaktree Capital Administration for an undisclosed sum.

The deal was first introduced in April however required the approval of the Monetary Conduct Authority, which was granted right this moment (3 October).

Ascot Lloyd has near £10bn in funds underneath affect and gives Monetary Planning, wealth administration and company profit options to greater than 20,000 shoppers.

It has greater than 500 workers in 17 UK areas and has seen continued development  underneath its present administration crew, led by Nigel Stockton.

Los Angeles-headquartered Oaktree had been an investor within the Monetary Planning agency since 2013 and bought the agency in 2017.

Ascot Lloyd will use the funding from Nordic Capital to additional develop its digital proposition, enhance its concentrate on sustainable financial savings and take into account potential acquisition alternatives.

Ascot Lloyd chief government Nigel Stockton stated: “Following 9 years of appreciable progress with Oaktree, we’re delighted that Nordic Capital’s acquisition of Ascot Lloyd has now accomplished.

“Their funding, supported by their experience in our sector, will give us substantial new firepower to speed up our development, enabling us to increase our inorganic M&A technique and additional spend money on our individuals and know-how. I look ahead to working with Nordic Capital on this subsequent section of Ascot Lloyd’s story.”

Lately Ascot Lloyd has acquired a lot of Monetary Planners, together with Kemble Warwick, Company Advantages Consulting, Gregory Adam Monetary Administration, Fitzroy Wealth Administration and Ring Associates in 2020.

In August 2021 it accomplished the acquisition of Aberdeen-based Central Funding Providers, a couple of months after securing funds from Ares Administration Company to extend its capital accessible for acquisitions to over £100m.

The deal confirmed right this moment contains the acquisition of the pursuits of Ares Administration Company.