Perspective Financial Group is a financial planning and wealth advisory business. It has 40 offices across the UK and now has over 500 staff of which 140 are financial planners.
CBPE Capital LLP (“CBPE”) is pleased to announce that it has exchanged contracts on the sale of Perspective Financial Group Limited (“Perspective”) to US middle-market private equity firm Charlesbank Capital Partners LLC (“Charlesbank”). The sale is subject only to regulatory approval from the FCA. Terms of the transaction have not been disclosed.
CBPE invested in Perspective alongside the current management team in December 2019. During CBPE’s investment the business has grown significantly from £2.6 to £8.0bn assets under management through a focused buy-and-build investment strategy, supported by strong organic growth.
Perspective has completed over 45 acquisitions since CBPE invested. All of these have been fully integrated into the group, ensuring consistently high standards of advice whilst enabling all acquisitions to benefit from the significant investments that have been made in central support functions and technology.
From the outset, CBPE understood the key element of a successful wealth business and the importance of maintaining our client-centric culture. They have been a constant and supportive presence throughout the past four years. Together, we have built a highly efficient M&A execution and integration team, which has allowed us become the go-to acquirer for retiring IFA businesses. We are excited to partner with Charlesbank and believe this new partnership will help us continue building on our success to date and enable us to take our business to new heights.
We have had the pleasure of working in a highly collaborative partnership, with a fantastic management team at Perspective. We have seen the business develop and grow significantly, whilst maintaining its focus on regulatory best practice and always doing the right thing by its clients. We take immense pride in what we have achieved together and the quality of Perspective as a platform for further growth in the UK wealth management market.
The sale continues CBPE’s strong track record of investing in the financial services sector. The proposed sale of Perspective will follow the previous successful exits in the sector including Xceptor, Compre, Xafinity and JTC, and will represent the sixth exit from Fund IX. Current investments in the financial services sector include BKL, Centralis Group and DCL.
CBPE’s investment in Perspective was led by Richard Thompson and Harry Hewlett with support from Rachel Milton.
CBPE were advised by: Houlihan Lokey (Corporate Finance), Mayer Brown (Legal), Deloitte (financial, operational and tax diligence), LEK (commercial diligence), Thistle Initiatives (regulatory diligence) and Crosslake (IT).
