IFA and wealth management company Skerritts has bought Hampshire-based advice firm PS Financial Advisers for an undisclosed sum.
The purchase of PS Financial Advisers brings in an additional £60m ($69.1m, €69.6m) of assets under management.
This is Skerritts’ fourth acquisition of the year as it previously bought advice firms Geoffrey Craig, Saffron Wealth Management and Bradbury Hamilton.
Richard Skerritt, chief executive of Brighton-headquartered Skerritts, said: “As part of our strategic plans to increase our presence in the South East, adding a highquality firm such as PS to the group enables us to expand into Hampshire and adds a great team of people that we very much look forward to working with.”
In March 2021, Sovereign Capital Partners, a UK private equity firm, completed a significant investment in Skerritts worth £55m. The objective of the investment was to develop and expand the business through a strategy of organic and acquisitive growth.
Skerritts Group has completed seven deals since the Sovereign investment. Prior to the PE-backing, Skeritts had made nine acquisitions.