Sovereign backs the MBO of private client trust and corporate services provider Aquitaine and its first two acquisitions Read more

  • Status: Current
  • Date: 2021
  • Sector:
    • Financial Services & Insurance

www.skerritts.co.uk

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Skerritts

Skerritts is a successful Independent Financial Advisory (IFA) and Wealth Management business providing clients with financial planning and investment management services. Sovereign has backed the management team to support their growth ambitions and deliver an even greater UK presence through a strategy of Buy & Build.

Investment Background

Skerritts was founded in 1990 by Richard Skerritt from his home office. In the years that followed, the business earned a reputation with clients for the quality and strength of its service offering and went from strength to strength. Eight acquisitions were made and Skerritts continued to grow and develop. Keen to further scale the business in the UK, the management team began to look for an investor that could help them achieve their ambitions in this highly fragmented market. They chose Sovereign.

Value Creation

  • At investment Andrew Fisher was appointed Non-Executive Chair; Andrew was previously CEO of Coutts & Co and CEO of Towry Group. Charles Sparrow joined as Group CFO. Charles worked for nearly twenty years at Seven Investment Management, which he co-founded.

THE BUSINESS

Skerritts provides financial planning and investment management services, and looks after c.4k private clients as well as corporates. Headquartered in Hove, South Coast of England, and with an office in the City of London, the business has a team of c.40 staff.

Skerritts manages c.£1bn of client funds. Their discretionary service is delivered through the company’s in-house investment management solutions; these include a range of Model Portfolio Strategies and Open-Ended Investment Funds. In addition, Skerritts will be delivering a white label platform solution through platform technology company Hubwise, further developing its vertical integration opportunities.

Sovereign has backed the management team to support their growth ambitions and deliver an even greater UK presence through a strategy of Buy & Build.


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THE FOUNDER'S PERSPECTIVE

Sovereign’s investment and expertise in financial services, gives us a fantastic opportunity to accelerate our growth ambitions and enhance our capabilities. As a team, we are dedicated to providing the highest level of care to all our clients. We look forward to further enhancing our capabilities and continuing to deliver the same level of service and care we are recognised for by our customers.

Richard Skerritt / Founder & CEO / Skerritts