IFA group Perspective raises £10.6m for growth

PERSPECTIVE Financial Group, the acquisitive Cheshire-based network of Independent Financial Advisers, has raised £10.6m to boost its growth plan.

The Wilmslow company, which has made more than 20 acquisitions since it was launched in April 2008, has received £7.1m from its original private equity backer, Mosaic Private Equity, and arranged a further acquisition facility of £3.5m from Lloyds Banking Group.

Perspective Financial Group expects to announce a number of further acquisitions in the next three months. Its annualised turnover is now more than £17m, with EBITDA of over £5m.

Managing director Damian Keeling, said: ““We are particularly pleased to have raised this finance to fund both our future acquisition strategy and an ambitious organic growth plan over the next two years.

“The exercise has been a vote of confidence in our strategy from both Mosaic and Lloyds Banking Group.  This continued commitment from Mosaic and Lloyds Banking Group shows the value that we have delivered consistently since we began the Perspective Financial Group proposition almost three years ago.

“Our focus remains on buying further high-quality, well-managed businesses, while helping the group’s existing firms improve their offering to clients and expand organically in both new business and recurring income. 

“Perspective Financial Group has grown to become one of the largest and most profitable IFA groups in the UK; our ongoing aim is to deliver even more value to our shareholders in the future.”

Noel Stubley, director at Lloyds Bank Corporate Markets in Manchester, added: “Perspective Financial Group has an excellent management team and a strong balance sheet with consistent income streams. 

“Its buy-and-build strategy is one we are happy to back and is further evidence of our commitment to support businesses with the right growth plans.”