Professional education consolidator Kinrock has acquired wealth management development services provider Redmill Advance for an undisclosed sum.
The deal was completed on 31 August 2022.
Redmill Advance is a provider of regulatory qualification training and continued professional development services to the UK wealth management industry. Its client list includes St James’s Place, Brown Shipley, Tavistock Investments and DeVere Group.
David Tait, founder of Redmill Advance, has taken an ownership stake in Kinrock as part of the deal and continues to be involved in the business. Tait will also continue as a strategic adviser to Kinrock as the business seeks further acquisitions as part of its own strategic growth plans.
Tait said: “Redmill Advance has gone from strength to strength over the years. Our client base has grown to include some of the largest wealth and asset management organisations in the UK and internationally.
“The acquisition of Redmill Advance by Kinrock marks a significant milestone in our company’s development and provides an opportunity to scale and grow the business across product, technology and people quickly and effectively, all of which will provide significant added value to our clients.
“Kinrock, led by Alex Arapoglou, share many of our own values. We believe in their vision and I look forward to watching the business thrive under new stewardship as I work closely with Alex on the next chapter of the company’s evolution.”
Kinrock was set up in 2022 to acquire controlling interests in professional education, development and training businesses.