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Thistle Initiatives Supports Skerritts With Aquisition Of Mercier Allen Associates

4 April 2023

Skerritts, a private equity-backed financial advice business, hired the Investments team at Thistle Initiatives to help with the due diligence undertaken on Horsham-based Mercier Allen & Associates. 

The assistance on this occasion was in respect of investment advice, suitability reviews, and general guidance.

The transaction, according to Hove-based Skerritts, will increase the amount of assets under management by £73 million and expand its presence in the region as the business group continues with its accelerated growth plan.

In March 2021, the group secured £55m in funding from Sovereign Capital Partners, with a  view to significantly expand the group through organic and acquisitive growth.

Skerritts completed four acquisitions in 2022, adding new offices in Kent, Hampshire, and London and a total of £560m in assets. Thistle Initiatives is delighted to have assisted in respect of two of these acquisitions in 2022, as well as the addition of Kent-based Equinox Wealth which Skerritt acquired in January this year.  

Of the latest acquisition, chief executive Richard Skerritt said: "As part of our strategic plans to increase our presence in the Southeast, adding a high-quality firm such as Mercier Allen to the group enables us to increase our presence in Sussex and adds Neil and his staff to our great team of people."

James Dingwall, Founder, and CEO at Thistle Initiatives said: “Our congratulations go out to the Skerritts team on this most recent purchase of Mercier Allen & Associates. It is a pleasure to help and offer guidance and support to Skerritts as it continues its acquisition strategy throughout 2023.”

To find out more about our Advisory and Acquisition Due Diligence services or to speak to a member of our expert team, please call 0207 436 0630 or email info@thistleinitiatives.co.uk.