National IFA Moneygate says it will push ahead with its expansion and acquisition plans following Committed Capital's purchase of an equity stake in the group.
Today, the north-east based IFA consolidator confirmed private equity business and Succession Advisory Services backer Committed Capital has acquired MGT Capital's 49% stake in the group. "Committed Capital brings to the table a wealth of experience in the market and a very considerable fund base," says Moneygate chief executive Lee Hartley. "We welcomed Committed onto our board this week and it is clear that they are perfect partners for us." An SEC filling on January 31 reveals MGT sold its stake to Committed Capital for £96 with the deal now being subject to FSA approval. Moneyg...
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