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Ascot Lloyd

Ascot Lloyd

27 February 2021

Liberty advises the management team of Ascot Lloyd on its new investment from Ares Management

Liberty Corporate Finance is pleased to announce that it has advised the management team of Ascot Lloyd on its Financing from Ares Management who will join Oaktree Capital Management as investors in the business.

Mick and the Liberty team were hugely useful in the negotiation of the new Incentive Plan for the management team. They were easy to deal with and made the negotiations with the PE Houses less contentious and much simpler.

Nigel Stockton
CEO of Ascot Lloyd

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.

Mick McDonagh
We have known Nigel and Michael for a number of years and are delighted to have supported them in this important finance raising for Ascot Lloyd. The IFA market is experiencing significant consolidation and the additional capital available to the business will allow it to continue to target high quality acquisition targets for the group.

Michael McDonagh
Partner
07715705000
michael.mcdonagh@libertycf.co.uk