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July 22, 2021

Wren Sterling secures majority investment from Lightyear Capital

By Verdict Staff

British advisory firm Wren Sterling has secured a majority investment from investment funds affiliated with Lightyear Capital.

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How attractive are current investment opportunities in Europe?

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Size and other terms of the deal have not been made public.

The investment will support the firm to complete a management buyout from Palatine Private Equity and shareholders, subject to FCA approval.

New York-based Lightyear is a financial services private equity firm with focus on asset and wealth management.

The deal will have no effect on Wren Sterling’s management team and staff.

Wren Sterling executive chairman Ian Darby said: “We have secured a fantastic deal for Wren Sterling’s clients, shareholders and staff. It will provide a return for our investors, enable us to grow our business and continue to invest in our client service.

“Lightyear will bring years of expertise in growing financial advice businesses, plus the capital we require to help us grow Wren Sterling, so they’re an ideal partner for us.

“Palatine has been a hugely supportive owner over the last six years. Through the management team’s hard work and Palatine’s guidance, we’ve created a dynamic business that is helping many people across the UK to make the right financial decisions.”

Lightyear managing partner Mark Vassallo added: “Lightyear’s investment in Wren Sterling will build on our successful track record in wealth management and reflects our longstanding thematic focus on the growth of independent financial advice.”

Wren Sterling was created following a management buyout of Towergate Financial led by Ian Darby and supported by Palatine Private Equity in March 2015.

Last month, the firm added approximately £294m of assets and 550 new clients through a trio of acquisitions.

The acquired entities were Sentinel Private Clients, Bookkeeping Administration Services (BKASL), and Rothesay Intelligent Financial Services.

Last August, the company closed the purchase of Woking-based IFA Frobisher Capital from parent Corimar Holdings.

In July 2019, the firm bought Dunfermline-headquartered TD Armstrong Financial Planning.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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