Hollywood business management firm acquires UK consultancy
A US business and wealth manager to the stars has expanded into the UK with its acquisition of a high net worth business management consultancy.
Ground Control, an NFP subsidiary, serves high net worth individuals, entertainment industry executives, entertainers and professional athletes.
It’s acquired Clay GBP, a consultancy firm providing accounting, taxation and business advice to high networth individuals across sport, media and entertainment.
From its offices in London and the Midlands, Clay provides management services across the complex aspects of their clients’ financial lives, including bookkeeping, bill pay, tax preparation and planning, as well as the coordination of estate planning, wealth management and insurance services through external resources.
NFP, which has its UK headquarters in Birmingham, plans to integrate Clay into Ground Control’s operations and rebrand them as Ground Control.
The NFP Corp group is an Aon company which provides property and casualty brokerage, benefits consulting, wealth management, and retirement plan advisory services.
Clay GBP partners Richard Smethurst, Nick Parkinson, Bhavini Ratan, Ian Bailey, James Plumbly, Jasdeep Sami and Philip Hampson will join Ground Control as managing directors and report to Chris Bucci, CEO of Ground Control.
Bucci said: “After partnering with Clay GBP for years, we’re thrilled to welcome their team to NFP and expand our broad range of specialized business services internationally.
“Ground Control was started as a traditional US entertainment business management firm, and with our clients’ global needs growing it made sense to add Clay GBP’s tax and accounting expertise to our capabilities. Clay GBP’s mission – which focuses on building relationships based on understanding and trust – aligns well with ours, and we look forward to collaborating for the benefit our existing clients and the broader industry.”
Clay GBP partners Smethurst and Parkinson said in a joint statement: “We couldn’t be happier to join NFP and become part of Ground Control, one of the most prominent firms in the business management services industry.
“NFP’s breadth of expertise and capabilities across risk, human capital, wealth and retirement will give us an uplevelled approach to client relations and offerings for the UK. We’re honored to be a part of Ground Control’s international expansion and bring US-style business management services to the UK market.”
Squire Patton Boggs advised NFP UK, an Aon company and subsidiary of New York headquartered NFP Corp, and its business management solutions business Ground Control Business Management, on the acquisition of Clay and its subsidiary, C&A Company Secretarial Services.
The team advising on the transaction was led by Corporate partner Tom Durrant, assisted by Claire O’ Connor, Nageena Shaheen, Athina Maneli and Indy Bening, with tax advice provided by Patrick Ford and Thomas Barr.
