Shawbrook funds latest client book acquisitions by Throgmorton

Manchester-based financial advisers, Throgmorton Capital Management, is set to expand by acquiring client books from Roger Baron IFA Ltd and Jean Pritchett in deals backed by Salford-based bank, Shawbrook.

Incorporated in 2018, Throgmorton provides financial planning and discretionary investment management services to clients across the UK.

Throgmorton sought to re-finance existing debt alongside acquiring additional headroom to enable the purchase of client books from Roger Baron IFA Ltd and Jean Pritchett.

The full terms of the deal are undisclosed, but include a day-one credit facility with further loans which will be drawn down in 2024 and 2025.

Shawbrook was directly approached by Throgmorton.

Alasdair McWilliams, founder and director at Throgmorton Capital Management, said the deal will help move the company into the next phase of its growth journey.

He added: “Throgmorton provides its clients with high quality financial planning and investment management services and over the last few years we have established the firm as an acquirer of choice for retiring advisers in the region.

“Our ability to offer sellers a stable long term home for their clients and comfort that their clients will continue to receive the same personalised service from Throgmorton that they have invariably received from the retiring adviser is compelling.

“These latest acquisitions and the relationship with Shawbrook mark another significant milestone for the company. The deal Shawbrook put together for us provides the flexibility we need to continue our journey and we look forward to continuing our relationship going forward.”

Nathan Burn, new business analyst at Shawbrook, said: “Throgmorton is a successful business with an experienced leadership team and a strong company culture, it was a pleasure to work with Alasdair and Brendan on this deal.

“The team at Shawbrook has every confidence that this additional funding will help them grow and expand the business, taking it to new highs with the acquisition of new client books.”

Gunnercooke provided legal counsel for Shawbrook and Weightmans acted for Throgmorton. DTE Business Advisers conducted the financial due diligence on the deal.

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