Posted on Thursday February 6, 2020
The Corporate team at Mackrell has advised HMFC Wealth (HFMC) on its acquisition of specialist financial planning firm, Aspinalls Group (Aspinalls).
HFMC provides wealth planning and investment management to both high net worth individuals and businesses and its acquisition of Aspinalls will add more than £130m in assets under management to HFMC’s business.
The acquisition means that HFMC’s assets under management total more than £1.4 billion and it will add over 100 new families to its client base.
The transaction was led by Corporate Partner Maung Aye and Solicitor Robert Watson, with support from a number of colleagues including Donna Martin (Employment).
Maung commented: “HFMC is extremely ambitious and we are delighted to have played a role in its ongoing growth.
Aspinalls are an extremely good fit for HFMC and this will allow them to offer their client base a wider range of financial planning services”.
Phil Patient, COO of HFMC Wealth, commented: “We are delighted to have been able to deliver this carefully selected acquisition which is a key part of our growth plan. The support provided by Maung Aye and Robert Watson from Mackrell was invaluable, providing a supportive and pragmatic approach to negotiations, understanding that both sides of the transaction always wanted to get a deal done, but highlighting the risks where they truly mattered.
Their approach allows us to pursue potential acquisitions with like-minded wealth and financial planning firms with confidence, and we expect further deals to be agreed during the next year as we continue our growth strategy. We are building a financial planning and wealth management business that retains the depth of understanding and relationship that comes with being a client focussed business whilst providing the range of services normally associated with a Private Bank. We very much look forward to working together on future acquisitions.”
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