Maven Capital Partners has reached a deal to divest its take in Titan Wealth to US-based private equity firm Parthenon Capital.
As part of the deal, Parthenon will work together with the management of Titan Wealth to help the firm further grow its business.
Parthenon will invest in technology and client service to improve Titan Wealth’s capability to provide its clients with complete, integrated investment and platform solutions as well as custody services.
The firm will also help in availing new capital to support fresh merger and acquisition (M&A) in future.
Following the completion of the deal, Parthenon will become a majority shareholder in Titan Wealth.
Other current investors of Titan Wealth, including ARES and Hambleden Capital, will continue to be part of the business.
Financial terms of the deal, which awaits approval from the UK Financial Conduct Authority (FCA) have not been divulged.
Titan Wealth joint CEO and head of M&A Andrew Fearon said: “This is fantastic news for Titan Wealth and our future growth plans.
“It is a validation of our differentiated client to custody strategy and the partnership positions us well for continued strong organic and inorganic growth.
“Parthenon is a standout investor and we look forward to working with them.”
The latest deal follows Titan Wealth’s acquisition of independent financial adviser (IFA) Telford Mann Group last month.
Parthenon Capital managing partner Andrew Dodson said: “Titan Wealth is an outstanding business to partner with for our first platform investment in the UK.
“The management team has demonstrated a strong track record of growth and their vertically integrated, client to custody strategy is differentiated from other players in the wealth management sector.”
