Herrington Carmichael’s Banking & Finance team has advised a consolidator of financial advisory businesses, Futura Financial Services Group, on its £14.5m buy and build facility with Shawbrook Bank.
The Client
Futura, based in London is an independently owned group that is focussed on creating and delivering a better future for IFA firms whose owners are looking to realise value whilst protecting their brand’s heritage and legacy. Through their acquisitions in the IFA market, they have been able to rapidly scale their advisory capabilities, create operational synergies, and deliver enhanced value to clients through a robust service offering.
The Challenge
After already completing 3 acquisitions this year alone, which our Financial Services M&A team advised upon, the company secured a buy and build facility to continue to deliver on its acquisition strategy and upward trajectory. The financing provided by Shawbrook Bank will enable Futura to continue its growth momentum, building on the progress of recent years and execute further strategic partnerships and acquisitions to strengthen its position in the IFA market.
Our Approach
Herrington Carmichael advised and worked alongside debt finance advisor, Dow Schofield Watts (led by Gavin Harrison) in bringing the matter to a close. We were particularly delighted to have successfully completed this transaction and to have assisted in the satisfaction of all conditions precedent within an expedited time frame. Our proactive approach and close collaboration with all parties ensured that our client was able to complete the re-finance and drawdown funds in line with their objectives.
What our client said
Paul Ollerton, Chief Executive Officer of Futura Financial Services Group, commented:
“Having worked closely with Yavan and the team for several years now, this re-finance project was particularly important for Futura – allowing us to continue with our steep growth trajectory without compromising our focus on service excellence and continual improvement. In such a fast-paced environment, it is essential for us to work with key strategic partners like Herrington Carmichael, who have a deep understanding of our business, people and aspirations.”
The Team
The Herrington Carmichael team was led by Managing Partner, Yavan Brar, and supported by:
- Chris Gemson, Legal Director;
- Samuel French, Senior Apprentice Solicitor;
- Michelle Lamberth, Senior Paralegal.
