Wren Sterling announces acquisition of Critchleys Financial Planning, LLC, an Oxford-based financial advisor with £150m of assets under advice
Second acquisition announced since investment by Lightyear Capital as Wren Sterling accelerates its growth strategy
New York & London, July 06, 2022 – Wren Sterling Group, one of the UK’s leading providers of specialist financial planning advice to private and corporate clients, has today announced the completion of its acquisition of Critchleys Financial Planning LLP.
Under the terms of the deal, the Critchleys Financial Planning LLP team, led by Jason McGuigan, have been welcomed into Wren Sterling, along with their clients who between them represent c. 300 households and c. £150 million of assets under management.
The transaction is Wren Sterling’s second announced deal since its secondary management buyout by Lightyear Capital (“Lightyear”) in late 2021. This follows its announcement of the acquisition of Mutual Financial Management in early June, which together with Critchleys Financial Planning LLP, will add a total of £825m of AuM to the business.
The rebranded business will provide Wren Sterling with a new hub in Oxfordshire to complement its eight other locations around the UK, from which it intends to make further bolt-on acquisitions. The acquisition is in-line with Wren Sterling’s M&A strategy of acquiring culturally-aligned businesses as hub locations in key strategic locations such as London, Edinburgh, Birmingham and Bristol as well as smaller bolt-on acquisitions to existing hubs.
This strategy complements its plan to accelerate its organic growth through improving its brand and proposition, simplifying its business and investing in its people and technology.
James Twining, Wren Sterling’s Chief Executive
said: “I’m delighted to welcome the Critchleys Financial Planning team and their clients to Wren Sterling. Jason and the team have done a phenomenal job for their clients over the years, building a business of ambition and excellence that perfectly aligns to our own approach.
“The UK IFA market encompasses many excellent businesses deciding that now is the time to look for new investors, either to facilitate their own retirement or because they see that their clients stand to benefit significantly from the support of a larger organisation in the face of mounting regulatory, operational and technology costs and complexity.
“This deal shows that Wren Sterling is the natural home for entrepreneurial businesses looking to enhance how they serve their clients, develop their people and be part of a winning and distinctive team.
Jason McGuigan, Critchleys Financial Planning LLP’s Principal Financial Planner
, commented: “It was important to us, when considering our future, that we partnered with an organisation that shared our core values of putting the client at the heart of everything we do. It was clear from our very first meeting with Wren Sterling, that this is central to their DNA.
“Thanks to our new partnership, we will be able to strengthen our offering to clients and continue to develop and invest in our people. We also have the exciting opportunity to expand the business further through hiring and bolt-on acquisitions in the Oxford and Thames Valley regions.”
About Lightyear Capital LLC
Founded in 2000, Lightyear is a financial services-focused private equity firm based in New York. Through its affiliated private equity funds, Lightyear makes primarily control investments in North America-based, middle-market companies associated with financial services, including asset management and wealth management, banks and brokerage, commercial and consumer finance, financial technology, healthcare financial services, insurance, and tech-enabled business services. Lightyear brings focus and discipline to its investment process, as well as operating, transaction, and strategic management experience, along with significant contacts and resources beyond capital. For more information, please visit www.lycap.com
Notes to Editors:
The value of the Critchleys Financial Planning LLP transaction will remain undisclosed.
Wren Sterling has acquired the trade and assets of Critchleys Financial Planning LLP from Critchleys LLP.
Head of Marketing, Wren Sterling
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