Foster Denovo Group, parent company of national financial advice business Foster Denovo, has secured up to £100m of funding from private equity backers Crestline Investors.
The deal, which completed in February, will see Crestline Investors take a minority stake in Foster Denovo as the firm continues its expansion into a larger national advice business. Foster Denovo has undertaken a series of initial acquisitions in the form of adviser practice buy-outs (PBOs), covering four of the largest private client and corporate-focused practices operating under Foster Denovo since its inception in 2007. The investment will fund Foster Denovo's acquisition and growth strategy, the company added. "Following a record year in 2021 with revenue growing 24% to over ...
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