Professional services firm Progeny is set to purchase chartered financial planning firm Gibbs Denley for an undisclosed sum.
Founded in 1990, Gibbs Denley is headquartered in East Anglia. The firm currently has a workforce of 36 people, comprising seven chartered financial planners operating out of three offices in Cambridge, Bury St Edmunds and Chelmsford.
The deal will bring Progeny’s assets under management to over £7.5bn.
Gibbs Denley managing director Simon Rees said: “Over 30 years we have built a highly successful business by providing exceptional customer service and nurturing trusted, long-term relationships with our clients.
“In becoming part of Progeny we take a quantum leap in the services we provide to our clients, with financial planning, investment management, legal and tax specialists in house.
“We can keep striving to achieve ever-higher standards for our clients and now offer them easy access to a range of additional professional services to meet all their legal and financial needs.”
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The latest deal follows the acquisition of Edinburgh-based financial planning firm Balmoral Asset Management by Progeny in July last year.
Progeny CEO Neil Moles said: “A trusted, highly professional and ethical firm with great people: Gibbs Denley are an illustrious business.
“Naturally, we’re very happy that they have joined Progeny, bringing with them a stellar team, superlative standards and a connection with their communities that stretches back many decades.”