Fairstone Group has acquired Lisburn-based advice firm Fairstone Northern Ireland for an undisclosed sum.
Fairstone NI joined the group’s downstream buy out (DBO) model in 2015 and had a longer integration phase to grow the business. The firm is run by principals Sean Larkin and Peter Savage.
The deal brings almost 2,000 clients into the group, as well as 12 advisers and six support staff and secures funds under management in excess of £150m ($204m, €176m)
Lee Hartley, chief executive of Fairstone, said: “We are delighted to complete the final acquisition of Fairstone NI, which is a first-rate business with proven leaders in Sean and Peter. We have worked closely with the dynamic team throughout the integration phase to provide the support and framework to grow the business and they have really become a big part of the Fairstone family.
“Our experience shows that culturally aligned forward thinking firms are the most profitable and successful in the long-term. Peter, Sean and the team place clients at their core and their commitment to first-class service makes them an excellent fit for us. We are looking forward to continuing to work with the team to support them to significantly grow the business, without compromising on client service or independence.”
The acquisition is the eighth announced by Fairstone Group so far in 2021, after it recently bought Hampshire-headquartered advice firm Chadney Bulgin for an undisclosed sum.