Sovereign-backed wealth management business Skerritts announces latest acquisition

Sovereign Capital Partners, the UK private equity Buy & Build specialist, is pleased to announce that portfolio company Skerritts, a successful Independent Financial Advisory and wealth management business, has acquired City-based chartered IFA firm Bradbury Hamilton.

Sovereign originally backed Skerritts' management team in March 2021, to develop the business through a strategy of organic and acquisitive growth.

Bradbury Hamilton is a significant addition to the Group and brings c.£330m of AUM and c.570 clients and further broadens the Group's client base and penetration in the South East of England. It follows five smaller acquisitions in the region, including Geoffrey Craig and Saffron Wealth Management, which brought an additional £150m of AUM as well as revenue synergies for the Group, which is headquartered in Hove.

Alex Hay, Partner, Sovereign Capital Partners, said: "We are delighted with the pace of growth being achieved by Skerritts and the quality of the businesses attracted to the Group. In addition we are already seeing the benefits of significant investment in the Group’s technology capabilities such as Skerritts Online, Skerritts' direct-to-consumer digital investment portal launched earlier this year. We continue to work with Richard and the team to support new opportunities for the Group and expand its geographic footprint through further strategic acquisitions."

Richard Skerritt, CEO and founder, Skerritts, said: "This is fantastic news for the Group. We are finding that our approach resonates well with IFAs whose primary focus reflects our own – providing the highest level of care and service to all clients. Investment is also being made in the team through senior hires. These include a Head of Client Proposition to develop Skerritts' direct-to-consumer platform, and a Head of Advisors to support the expanded IFA team. We are really excited about the future opportunities."