Financial education company snaps up rival

LIVERPOOL-based Wealth at work – a provider of financial education in the workplace, supported by guidance and advice  – has acquired the Affinity group of companies (The Farleigh Group Ltd).
 
Founded in 2004, Affinity is a national provider of financial education and advice services based in Bristol.

The group works with more than 200 employers and mainly operates in the public sector for local authorities, the fire and police services and the NHS.

The value of the deal has not been disclosed.
 
Currently, Wealth at Work provides its services to the private sector for employees of large companies such as Marks and Spencer and BT.

This acquisition now sees it increasing its footprint in the market at a time when demand for at-retirement services is increasing significantly, due to public policy, together with legislative and regulatory changes.
 
Wealth at Work is backed by Equistone Partners Europe, which has an office in Manchester
 
Wealth at Work chief executive David Cassidy said: “We are very excited about the acquisition as we have become a giant within our sector overnight.

“It has allowed us to expand into the public sector at a time when making the correct at-retirement decisions are crucial for all. And not only this, but as many of our staff are based in Liverpool, it brings a real boost to the local economy as we seek to recruit more staff to cope with demand.”
 
He adds: “We are proud as a Liverpool company to have been recently recognised by the London Stock Exchange as one of the UK’s fastest growing and most inspirational companies. This development fuels continued growth for our business in the heart of the city.”
 
Equistone partner Steve O’Hare said: “We are delighted to have supported Wealth at Work to acquire the Affinity group (The Farleigh Group Ltd) as we continue to build on becoming the leading provider of financial education and advice in both the private and public sector. This acquisition will add to our capacity to meet the growing demand for Wealth at Work services.”

A team at Deloitte in the North West led by Richard Bell and Dan Wright provided due diligence.

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