Michelmores’ Corporate team has advised wealth planning firm Succession Group in its largest acquisition to date − buying Birmingham-based Clay Rogers & Partners Limited (Clay Rogers) via a mix of cash and shares, which over time could value the deal at over £10 million.
This is the 25th acquisition for the Plymouth-based firm and the largest and most complex they have completed to date.
Clay Rogers began working with Succession in 2013 to develop its proposition and grow capital value. It has £450million of funds currently under management.
The deal will see significant investment into Clay Rogers’ former Birmingham headquarters to become a client servicing hub, consolidating Succession’s Midlands activity to deliver world-class wealth planning solutions locally.
The Michelmores team advising was led by Partner Henry Taylor, with support from Associate Francesca Hubbard and Solicitor Megan Wright.
Paul Morrish, Group Corporate Director at Succession, said:
“The Group continues to identify strong businesses to further develop our leading consolidation model and this latest acquisition – the biggest and most complex we have undertaken to date, marks an exciting time of growth for Succession.
“The Michelmores team provided excellent support, offering proactive and efficient advice throughout the process”.
Michelmores Partner Henry Taylor said:
“This was an exciting deal between two like-minded and driven businesses. We very much enjoyed working with the whole Succession team and look forward to contributing to their continued progress”.