IFA gets private equity backing for acquisition strategy

Elevation Financial Group is aiming to reach the next level after receiving financial backing from private equity firm IW Capital.

Elevation is an acquisitive IFA which has completed nine acquisitions within the Birmingham to London corridor since it was set up in 2011, including recent deals for DCS Financial Planning in Birmingham and Oxfordshire-based Financial Therapy.

The financing from IW Capital will enable Elevation to continue with its programme of acquisitions, which is focused on IFA firms in the South East and Midlands.

The loan facility offers either a redemption premium option or the right to convert a bullet amount to a minority equity stake at maturity. The value of the funding has not been disclosed, but IW Capital typically lends between £0.5m-£2.5m.

Elevation, which is based in Castle Bromwich, was established by experienced financial services professional Tony Smith.