Skerritts has received regulatory approval for the acquisition of Harrogate-based advice firm, Ellis Bates Financial Advisers.

The transaction will complete on 30 September and will add to Skerritts’ presence in the north of England as the group looks to accelerate its expansion nationally.

Headquartered in Hove, Skerritts is a chartered financial adviser and wealth manager.

In March 2021, Sovereign Capital Partners, a UK private equity buy and build specialist firm, completed a significant investment worth £55m to develop the Skerritts business through a strategy of organic and acquisitive growth, which has seen the addition of new offices in Chester, Kent, Hampshire, Surrey and London.

The purchase of Ellis Bates adds over £1bn of AUM and takes the number of deals that the Skerritts Group has completed since Sovereign’s investment up to 11.

Skerritts CEO, Paul Feeney, said: “This acquisition continues our mission of becoming Britain’s premier chartered financial planner.

“Ellis Bates will bring a strong Northern base to the Skerritts Group, with a highly experienced and talented team, and we are incredibly excited to be working together.”

Managing director of Ellis Bates, Michael Cope, added: “We have known the Sovereign and Skerritts teams for some time now and have been impressed with the robust expansion it has achieved through its buy and build strategy.

“In our search for a next-stage growth partner, we have spoken to many other firms, but only Paul has excited us with his vision, ambition and drive to create a truly national, independent, chartered financial planning firm.

"We also see the same high standards, family values and client centric approach within Skerritts that are so important to us.”

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