PE Deals

J.C. Flowers-backed Solomon to acquire Beaufort Group

Beaufort is a UK-based financial planning firm.

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  • Solomon will also acquire YOU Asset Management as part of the deal
  • Solomon was founded by former Quilter Financial Planning CEO Andy Thompson and CFO Darren Sharkey
  • The transaction is the first stage of a strategy to build a national advice business, serving in excess of 50,000 clients
J.C. Flowers & Co-backed Solomon has agreed to acquire Beaufort Group, a UK-based financial planning firm. As a result of this transaction, Solomon will assume full ownership of Beaufort Financial and YOU Asset Management, according to the press release.
Based in the UK, YOU is a 17-year-old discretionary fund management firm with over £1.4billion in funds under management on behalf of private investors, trusts, charities and corporate bodies.
Beaufort Financial and YOU will retain their own brand identities and control over day-to-day operations, as well as the inclusive cultures on which they pride themselves.
Following completion of the deal, Beaufort Group CEO Derrick Dunne and Chairman Simon Goldthorpe will join the Executive team at Solomon, with Mr. Goldthorpe becoming Vice Chairman.