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Craven Street Wealth has acquired Bernard Barrett Associates Limited as part of its buy and build growth strategy. Shawbrook supported the acquisition with a Commercial Loan incorporating the refinance of the client’s existing facilities and a committed accordion facility.
Craven Wealth Management is an award-winning independent chartered financial planning and wealth management firm. The group was created by the London based corporate finance firm, Craven Street Capital Ltd, following the acquisitions of Kreston Reeves Financial Planning Ltd and Christchurch Investment Management Ltd in March 2021.
Bernard Barrett Associates have over 40 years’ experience in the financial planning industry and shared values of trust, integrity, experience and expertise to provide the highest standard of advice.
Having previously supported Craven Street Wealth (CSW) with multiple acquisitions, including the double transaction in March 2021 and the acquisition of Tarvos Wealth Ltd in 2022, Shawbrook structured a new £13m Commercial Loan which combined a refinance of the client’s existing arrangement and a committed accordion facility that allowed for deferred consideration payments over the next 12-months.
- Tom Barnett, Craven Street Wealth
Bernard Barrett and Stuart Bates comment:
“It was clear from our initial discussions that CSW would be a great fit for both our clients and our staff, with welcoming and down to earth people who have a wealth of experience and expertise. What is of the utmost importance is that Craven Street Wealth upholds the same core values we always strive for, putting clients at the heart of everything, aiming for excellence and building long-term relationships based on trust and integrity. This is an exciting opportunity for everyone involved, with Craven Street Wealth presenting a forward thinking and dynamic team. We are very much looking forward to driving that success, as well as being a part of it.”
Craven Street Wealth Managing Director, Tom Barnett is “Delighted to welcome the Bernard Barrett Associates clients and team to the Craven Street Wealth group at an exciting time for our growth plans in London. From our early interactions with Bernard and Stuart I was sure that the team and their approach to client care would fit naturally into the culture at Craven Street Wealth and therefore whilst representing a change for all, I am confident the future will also hold a high level of continuity of these core values. For Bernard, who has developed the business over most of his long career in financial services, I am pleased that after much deliberation he has entrusted the business on to us and will continue to provide his support. Stuart will also be joining the management team in Craven Street Wealth and contribute his knowledge and experience directly to the continued growth of the Group."
Tom Barnett, Craven Street Wealth added:
“We’ve worked with the team at Shawbrook on quite a few transactions over the years and they are well attuned to our strategy. As a result, they very quickly crafted a refinance facility to support this latest acquisition which in turn will enable our joint clients to benefit from improved investment solutions, technological benefits and more competitive pricing terms with providers and suppliers.”
Steven Munt, Senior Director at Shawbrook, said:
“Craven Street Wealth have a strong, credible management team and a very ambitious strategy to drive growth in the business. This latest acquisition integrates Bernard Barrett Associates into their well invested core platform and facilitates economies of scale for both parties. We look forward to seeing the two businesses flourish as they support more clients with their financial planning and wealth management requirements.”
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