Harrogate-based independent financial adviser firm Prosperis has bought MHI Ltd of Bridlington, Yorkshire for an undisclosed sum.
Financial advice business MHI has around £23m ($31.8m, €26.9m) in assets under management.
This is Prosperis’ third acquisition and the company told International Adviser that it has three more M&A deals in the pipeline.
Prosperis was established over 20 years ago and employees 15 staff. It provides individual and corporate advice to more than 1,000 clients and businesses throughout the region.
Niall Gunn, managing director of Prosperis, said: “As an independently owned business, this acquisition will benefit greatly all clients. We are on track to open three further locations of which this is the first in the greater Yorkshire region as we continue with our growth plans.”
Paul Meehan, chairman of Prosperis, added: “These are exciting times for the whole Prosperis team and we remain very acquisitive. The purchase of the MHI business sets us up nicely as we now move to the next phase of the strategy to buy more firms.”