National independent advice firm LEBC Group has acquired Aspira Corporate Solutions, Bristol-based independent financial adviser (IFA), in a deal valued at £5m.

Founded in 2003, Aspira specialises in workplace pensions and wealth management for executives and private clients. The company has a workforce of 50 employees and has over 11,000 clients with nearly £500m in funds under management.

The acquirer noted that the deal will substantially boost its presence in the South West and adds additional advisory capacity that should considerably increase turnover throughout the business.

Once the transaction is closed, Aspira will be fully integrated within LEBC.

Under the terms of the deal, Derek Miles, CEO of Aspira, will join LEBC’s senior management team.

LEBC CEO Jack McVitie said: “Aspira is a business that we have known and admired for many years. I look forward to a successful integration and I am delighted to have the opportunity to work with Derek Miles as a colleague and fellow shareholder.

Camilla Kenyon, the company’s representative on the LEBC Board, said: “This is a significant acquisition that will strengthen LEBC through additional experienced personnel and geographic coverage. Aspira is a very good strategic fit, is in strong financial health and conducts its client relationships with the same integrity and commitment that LEBC demands.”