Absolute Financial Group has made its first “Partnership Program” acquisition with Hampshire-based St George’s Financial Services Ltd.
The deal sees Absolute invest in St George’s and agree a buyout plan for the remaining share capital in the future.
This will allow the business to grow further, with support from Absolute and its central team, before Absolute completes the full buyout for a long-term exit.
St George’s offices in Fordingbridge and its employees will continue under their existing brand, backed by Absolute.
David Carter, CEO of Absolute Financial Group, said: “We’re excited that St George’s Financial Services is joining Absolute, in our first Partnership Program acquisition.
“This structure allows us to build a long-term partnership with a high-quality, culturally aligned firm, while providing a long-term exit route.
“We think this is an exciting offering for firms who aren’t quite ready to sell but are looking for greater support and a longer transition to exit.”
Carter added: “It continues a busy period of expansion, and we look forward to further strengthening our presence across England in the weeks ahead as we continue our drive to become a leading force in UK retail financial advice.”
Chris Brooks, director and co-owner of St George’s Financial Services Ltd, said: “Joining Absolute Financial Group marks an exciting new chapter for St George’s.
“It gives us greater scale and support based on shared values of what matters most — our advisers and clients.
“The deal structure allows us to continue to grow and benefit from this growth, as well as be part of Absolute’s business.”
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