Ascot Lloyd, one of the UK’s largest and fastest growing independently owned IFA firms, has announced that it has received financing from funds managed by the Credit Group of Ares Management Corporation (“Ares”), a leading global alternative investment manager.
The financing will be used to support Ascot Lloyd’s ambitious growth strategy and the new funding will further increase the capital available for acquisitions to over £100 million.
The announcement comes following a strong 2020 for Ascot Lloyd with the business completing 12 acquisitions, despite the impact of COVID-19. These acquisitions added over £6.5 million of EBITDA to Ascot Lloyd with group revenues now over £60 million.
Ascot Lloyd is approaching £10 billion funds under influence, serving more than 21,000 clients through 132 IFAs across 15 locations nationwide.
Liberty advised the management team led by Nigel Stockton (CEO) and Michael Cavell (Chairman) on their continuing investments and equity incentive arrangements in the new structure.