The Foster Denovo Group is set to make another acquisition this year as it published its 2022 results.
The group reported a £3.9m (€4.5m, $4.7m) growth in EBITDA which it says is down to the successful execution of the first part of its acquisition strategy.
It acquired the practices of 17 self-employed advisers and most recently purchased Wade Financial Services with deployed funds from the investment by Crestline Investors.
Foster Denovo chief executive Roger Brosch said that the firm will be announcing its latest acquisition by the end of the year as part of the Group’s ongoing growth strategy.
He said: “2022 was a pivotal year for the Group. We completed our first external investment into the business and immediately put the funds to work resulting in spectacular growth in EBITDA.
“The acquisition strategy has continued in 2023 with the recent announcement of Wade Financial Services. Before the year is out, we will be announcing the next firm which will be joining the Foster Denovo Group.
“Our growth strategy is really starting to get into its stride, so watch this space.”