Transactions

Nordic Capital, a leading European private equity investor, has signed an agreement to acquire Ascot Lloyd, one of the UK’s largest and fastest growing independently-owned independent financial advice (IFA) firms.

The transaction will see Nordic Capital acquire Ascot Lloyd (the “Company”) from funds managed by Oaktree Capital Management, L.P. (“Oaktree”), alongside the interests of Ares Management Corporation (“Ares”), subject to regulatory approval.

With a deep understanding of the financial advice and wealth management market, Nordic Capital will partner with Ascot Lloyd’s management to support the Company’s client offering including through further developing its digital proposition, accelerating organic and inorganic growth and further increasing its focus on sustainable savings.

Oaktree has invested in the business since 2013 and acquired Ascot Lloyd in 2017. The business has seen considerable growth and has become one of the leading independently-owned IFA firms in the UK. Today, Ascot Lloyd is approaching £10 billion in funds under influence and provides financial planning, wealth management and corporate benefit solutions to more than 20,000 core clients. It has over 500 staff across its 17 UK locations.

Wealth services is a business with growth potential across the UK, underpinned by factors including an increased focus on savings and the rising demand for personalised advice. Nordic Capital will enable Ascot Lloyd to accelerate its growth trajectory through investing in its service proposition as well as further acquisitive growth.