LEBC, the Independent Financial Advisor backed by venture capital firm BP Marsh & Partners, has acquired Aspira Corporate Solutions in a £5 million deal.
Aspira is an Independent Financial Advisor based in Bristol and was founded in 2003. The business employs 50 staff and has over 11,000 clients and nearly £500 million in funds under management.
The acquisition will strengthen LEBC’s presence in the South West and add additional advisory capacity.
Derek Miles, Aspira’s CEO, will join LEBC as part of the senior management team following the acquisition and become a shareholder in LEBC. Following the transaction Aspira will be fully integrated within LEBC.
Jack McVitie, CEO of LEBC, said: “Aspira is a business that we have known and admired for many years. I look forward to a successful integration and I am delighted to have the opportunity to work with Derek Miles as a colleague and fellow shareholder. It is pleasing to be able to enter into this transaction off a fine year to end of September 2017 where we again set records on turnover, profit, margin and cash collection.”
Camilla Kenyon, BP Marsh's representative on the LEBC Board, added: “This is a significant acquisition that will strengthen LEBC through additional experienced personnel and geographic coverage. Aspira is a very good strategic fit, is in strong financial health and conducts its client relationships with the same integrity and commitment that LEBC demands.”