The parent company of advice firm Castlegate Financial Management has received an undisclosed investment from private equity group Blixt.
The Duncan & Toplis Group was founded in 1925 in Nottingham before it relocated to Grantham and expanded across the east Midlands. It provides businesses and individuals with a range of services including accountancy, audit and assurance, tax and business advice, wealth management, legal services, payroll, marketing, HR, and international business services.
Castlegate Financial Management, which is a subsidiary of Duncan & Toplis, offers advice on financial planning, wealth management, pensions, investments, tax and inheritance planning, as well as life and health insurance. The advice firm has 11 offices covering Lincolnshire, Leicestershire and Nottinghamshire.
Blixt is a European private equity firm headquartered in London, and is committed to investing in the UK accounting, wealth management and legal services sectors.
Following the PE-backing All Duncan & Toplis board members, directors and team members will remain in their existing roles, with Adrian Reynolds continuing as managing director of Duncan & Toplis and Andy Severn as managing director of wealth management business Castlegate.
The agreement with Blixt is subject to regulatory approvals and is due to complete in Autumn 2023.
Reynolds said: “Our new growth strategy will start the next 100 years as we mean to go on, accelerating our progress and protecting that which makes our business special, while taking it to the next level.
“Blixt is an ideal partner for us because they share our focus on culture and growth for the right reasons. They also bring incredible expertise in strategic thinking, supporting us in the direction we want to travel in, helping us further along the path and accelerating our progress.
“Fundamentally, their support means that in the next few years, we can achieve what we would have hoped to achieve in over 10 years, and that’s very exciting.”