Throgmorton Capital Management set to expand its client base

• Throgmorton Capital Management is a provider of financial planning and discretionary investment management services for clients across the UK.
• The wealth management sector has experienced substantial M&A activity over the last few years and Throgmorton Capital Management has been an active acquirer.
• The business was looking to further expand its client book base and secured a leveraged finance facility to support this and future growth.

Manchester-based financial advisers, Throgmorton Capital Management, is set to expand by acquiring client books from Roger Baron IFA Ltd and Jean Pritchett in deals backed by Shawbrook. 

Incorporated in 2018, Throgmorton provides financial planning and discretionary investment management services to clients across the UK.

Throgmorton sought to re-finance existing debt alongside acquiring additional headroom to facilitate the purchase of client books from Roger Baron IFA Ltd and Jean Pritchett.

The full terms of the deal include a day-one credit facility with further loans which will be drawn down in 2024 and 2025. 

Shawbrook was directly approached by Throgmorton who recognised the bank’s track record of successfully supporting IFAs in the past. Shawbrook’s ability to deliver a flexible solution which provided funding for both organic growth and growth through acquisition was also cited as a key reason why the lender was chosen as a funding partner.

Alasdair McWilliams, Founder and Director at Throgmorton Capital Management, said:

“We are delighted to now be working with Shawbrook as we move the company into this next phase of its growth journey. 
Throgmorton provides its clients with high-quality financial planning and investment management services and over the last few years we have established the firm as an acquirer of choice for retiring advisers in the region. Our ability to offer sellers a stable long-term home for their clients and comfort that their clients will continue to receive the same personalised service from Throgmorton that they have invariably received from the retiring adviser is compelling.”

Nathan Burn, New Business Analyst at Shawbrook, said: 

“Throgmorton is a successful business with an experienced leadership team and a strong company culture, it was a pleasure to work with Alasdair and Brendan on this deal. The team at Shawbrook has every confidence that this additional funding will help them grow and expand the business, taking it to new highs with the acquisition of new client books.”

Gunnercooke provided legal counsel for Shawbrook and Weightmans acted for Throgmorton. DTE Business Advisers Ltd conducted the financial due diligence on the deal.