Sedulo the lead advisor on £3m MBO of Stoke based IFA business

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PSP Wealth Management have recently announced the completion of a Management Buyout led by Gareth Chell, Matthew Searle, Tim Vaughan and Richard Pateman for a headline consideration of £3m.

Funding to support the transaction has been provided by Royal Bank of Scotland’s Corporate Transactions team who have worked alongside Sedulo’s Corporate Finance team.

Head of Corporate Finance, Benn Longshaw says’

“This was an enjoyable deal to work on with the expertise from all parties ensuring that it was executed in a swift and smooth manner. We wish the existing shareholders well in their future plans and look forward to working with the management team in a business advisory capacity to see them through the next stage of growth.”

PSP Wealth Management was established in 2006 as an independent firm of financial advisors specialising in occupational and other complex pension transfers. The business was formed by the two shareholders, Peter Colley and Stephen Marshall. Today PSP Wealth Management employs 4 Independent Financial Advisors (IFA’s) and seven support staff who are all based at office in Smallthorne, Stoke-on-Trent.

The Corporate Transactions team at Royal Bank of Scotland structured an undisclosed term debt package to support the management buyout. Advisors working on the deal include due diligence from FRP Advisory, Gunner Cooke LLP providing legal advice to the bank and Brabners for the management team and GHW Solicitors acting for vendors.

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