Perspective Financial Group Ltd has acquired Chambers and Co, the ninth firm to be brought under the Perspective umbrella.
Based in Chelmsford, Chambers is an IFA firm with a turnover of £400,000 per annum with funds under management of approximately £20 million.
It was founded in 1990 by husband and wife team, Alan and Nicolette Chambers.
With this latest acquisition, Perspective’s annualised turnover has been boosted to £9.5 million, funds under advisory and management are increased to over £500 million, with a recurring income of £4.8 million. Perspective also has an annualised EBITDA (earnings before interest, tax, depreciation and amortisation) at operating level of over £3 million.
As with all Perspective acquisitions, Chambers will continue to trade under its current name with the existing management team remaining at the firm to operate and develop the business.
This ninth acquisition follows Perspective’s announcement last month of its major refinancing package with Lloyds TSB Corporate Markets which boosts its acquisition facility to £12.5 million.
Damian Keeling, managing director at Perspective Financial Group Ltd, said: “Following the negotiation of our refinancing package with Lloyds TSB Corporate Markets we are already using this extra funding to continue to bring in profitable and well-managed IFA firms to the Group. Chambers and Co fits perfectly the profile of the firms Perspective is interested in acquiring and it also adds to our geographical spread through being based in Chelmsford. Since our own launch a number of new prospective consolidators have announced their intentions in the marketplace