Skerritts Group acquires Ellis Bates Financial Advisers to accelerate national expansion

Skerritts is delighted to announce that they have received regulatory approval for the  acquisition of Harrogate-based advice firm, Ellis Bates Financial Advisers. This transaction will complete on the 30^th September 2024 and will add to Skerritts’ presence in the North of England as the group looks to accelerate its expansion nationally.

Headquartered in Hove, Skerritts is a chartered financial adviser and wealth manager. In March 2021, Sovereign Capital Partners, a UK private equity Buy & Build specialist, completed a significant investment worth £55 million to develop the business through a strategy of organic and acquisitive growth, which has seen the addition of new offices in Chester, Kent, Hampshire, Surrey and London.

The purchase of Ellis Bates adds over £1 billion of AUM and brings the number of deals that the Skerritts Group has completed since the Sovereign investment up to eleven.

Paul Feeney, CEO of Skerritts, says

“I am delighted to welcome the great team at Ellis Bates to the Skerritts Group. This acquisition continues our mission of becoming Britain’s Premier Chartered Financial Planner.

Ellis Bates will bring a strong Northern base to the Skerritts Group, with a highly experienced and talented team, and we are incredibly excited to be working together’’

Michael Cope, Managing Director of Ellis Bates, says:

“We have known the Sovereign and Skerritts teams for some time now and have been impressed with the robust expansion they have achieved through their Buy and Build strategy. With a 40 year history behind us we are incredibly proud of the business we’ve built but equally ambitious to keep growing and ensure a successful future for our clients and our team.

In our search for a next-stage growth partner, we have spoken to many other firms, but only Paul has excited us with his vision, ambition and drive to create a truly national, independent, Chartered Financial Planning firm. We also see the same high standards, family values and client centric approach within Skerritts that are so important to us”

About Skerritts
We are award-winning Independent Financial Advisers and Wealth Managers focused on providing lifelong financial advice to aid the realisation of our clients’ long term financial objectives. We have been assisting families, directors, businesses, charities and trustees for over 30 years and are one of a select number of firms to hold Chartered Financial Planning and Discretionary Investment Manager status.

About the deal
Buyside assistance was provided by Dyer Baade, KPMG, TCC, Alvarez & Marsal and Pinsent Masons.