08/07/24

Press Release — KMG Independent Limited

Skerritts Group acquires KMG Independent Limited and KMG Investment Management Limited

Skerritts is delighted to announce the acquisition of Horley-based financial planning firm, KMG Independent Limited and its sister firm KMG Investment Management Limited. This enhances Skerritts’ presence in the South East of England as the group looks to accelerate its expansion nationally.

Headquartered in Hove, Skerritts is a chartered financial adviser and wealth manager. In March 2021, Sovereign Capital Partners, a UK private equity Buy & Build specialist, completed a significant investment worth £55 million to develop the business through a strategy of organic and acquisitive growth, which has seen the addition of new offices in Kent, Hampshire, Chester  and London.

The purchase of the KMG companies adds over £400million of AUM, and brings the number of deals that the Skerritts Group has completed since the Sovereign investment up to nine.

Paul Feeney, CEO of Skerritts, says:

“I am delighted to welcome the great team at KMG to the Skerritts Group. This takes us one step closer to achieving our mission of becoming Britain’s Premier Chartered Financial Planner.”

Paul Hutton, Managing Director of Black Swan, says:

“With almost 50 years in the industry, I have run KMG since the late 1980’s. With this in mind I have been looking ahead to secure the future of the company and team to ensure our current clients and their families are looked after for many more years to come.

I have spent some considerable time looking at potential companies that could complement us in the relevant areas. Having then weighed thoroughly the various options, I am very pleased we have agreed to become part of the Skerritts Group as I believe that they share the high standards that I always aim to set.”

About Skerritts
We are award-winning Independent Financial Advisers and Wealth Managers focused on providing lifelong financial advice to aid the realisation of our clients’ long term financial objectives. We have been assisting local people, directors, businesses, charities and trustees in Brighton, and the surrounding area for over 30 years and are one of the few firms in the South-East to hold Chartered Financial Planning and Discretionary Investment Manager status.

About the deal
Buyside assistance was provided by Dyer Baade, Crowe UK LLP, TCC, Alvarez & Marsal, EMC Corporate Finance and Pinsent Masons.

Categories: Press releases

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