Shipman Group has bought the wealth management arm of Chartered accountants MHA Monahans in its latest buyout deal.
The Exeter-headquartered firm of IFAs said the deal was an important step in its development plan to create a "significant regional hub" in the South West. Shipman Group is backed by Amber River (previously the Socium Group) headed up by Mary-Anne McIntyre, the former CEO of Openwork. The business, which is backed by private equity house Penta Capital, is working to create a "national financial advice business by deploying £60m in equity out of total funding in excess of £160m to acquire IFA businesses across the UK". The latest Shipman Group deal completed on 5 January 2022. It is...
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