Wealth management group’s new acquisition
NORTH East wealth manager Fairstone has announced the full acquisition of East Midlands business James Ryan Thornhill (JRT).
The independent firm, based in Nottingham and trading for 20 years, has joined the growing Sunderland group after a period of integration as part of its Downstream Buy Out (DBO) programme.
Fairstone’s DBO model sees the business act as an investment partner, providing the centralised resource, technology, and capital to support the ongoing growth of ambitious financial firms ahead of a future sale.
The deal brings over £110m of assets under management, £1m fee income, 600 clients, and a five-strong team of financial advisers supported by seven paraplanners, mortgage advisers and administrative staff.
JRT director Del-Ryan Rafter said: “The biggest appeal of Fairstone’s proposition was that they truly valued the ‘human capital’ within the business, and by this I mean our hard-working colleagues who are vital to the day-to-day running of our firm’s operations.
“Fairstone’s trust and expertise has allowed us to continue to build the business and I am excited for further growth in the future.”
Fairstone CEO Lee Hartley said: “JRT and Fairstone were an excellent match from the outset. I take great pride in Del-Ryan’s comments around the value we place on people. This is exactly why our DBO model adds enormous value over and above other acquisition programmes in the sector. We work in partnership during integration stage and embrace the skills and knowledge of the whole team.
“We only partner with ambitious growth-orientated firms like JRT who are not seeking a quick exit but favour a longer-term partnership beyond acquisition. I am looking forward to seeing the next stage of JRT’s growth evolution.”
Fairstone’s mergers and acquisitions team recently marked a record 12 months of dealmaking, with 16 firms joining its DBO programme across the UK and Ireland and a further six full acquisitions.
The group said its transaction pipeline looks stronger in 2024 with a significant number of discussions taking place with firms in the UK and Ireland.
I take great pride in Del-Ryan’s comments around the value we place on people Fairstone CEO Lee Hartley