Succession eyes acquisitions with £25m investment

Chamberlain-Simon-Succession-2013-700.pngSuccession Group has received a £25m investment boost from an HSBC loan and its existing shareholders to continue its acquisition strategy.

Succession wants to acquire the best 50 firms from its affiliated membership by the end of 2017. In the past three years it has bought 25 firms.

Succession group chief executive Simon Chamberlain says: “We are at the half way point in our plan to create the UK’s largest independent wealth management business, with strong funds under management, and profitable advice and platform trading arms.”

Succession Group currently has £11bn in funds under management of which more than £2.5bn is serviced through its national advisory business.

HSBC middle market financial sponsors western and Wales head Rhys Jones says: “Succession’s experienced and skilled management team place the company in an excellent position for its further expansion, and we have created a robust facility to support its growth plans.”