Financial planning firm Fairstone Group has agreed to acquire three businesses, one of which is based in Kent, as part of its downstream buyout (DBO) programme. The initiative involves the company taking an initial minority stake before integrating the acquisitions over a number of years. The latest businesses to join Fairstone Group are Mortgage Find in Kent, Sheffield-based Campbell Harrison and Pensions & Wealth Management, which has operations in Harpenden and Southport. The trio bring a total of 19 advisers to the Fairstone Group, revenue of almost £3.3m and additional funds under advice of about £290m. Mark Alexander, managing director of Mortgage Find, said: "We have found the integration process extremely simple and we look forward to making the most of our new partnership." Lee Hartley, chief executive of Fairstone Group, added: "Through our DBO programme, we are seeking out high quality firms with meaningful levels of assets under management who want to drive their performance upwards and realise optimum value for their businesses. "We are very pleased to have three companies of such quality join the group where they will be able to leverage the strength of Fairstone's system efficiencies, which will benefit both the front and back office, saving valuable time for advisers and ensure clients receive the very best financial advice. "Having spent time with the teams at Campbell Harrison, Mortgage Find and Pensions & Wealth Management, we are incredibly excited about our future working together."
Fairstone Group is set to acquire three businesses, Campbell Harrison, Mortgage Find and Pensions & Wealth Management, based in Kent, Sheffield, Harpenden and Southport, respectively, as part of its downstream buyout programme. The deal is estimated to bring in additional funds under advice of around £290m ($361m), as well as 19 advisers.