UK advice firm expands footprint with £3.9m acquisition

As it receives funding from bank to finance its growth plans

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Leicester-headquartered IFA firm Furnley House, part of the Superbia Group, has bought Nottingham-based CDG Financial Services for £3.9m ($4.8m, €4.5m).

Furnley House has 42 staff and provides financial advice, fund management and investment research services to its clients. It has more than £450m assets under influence.

The IFA firm is looking to expand both organically and through M&A deals.

CDG provides financial advice, wealth management and mortgage advice, and partners with solicitors, accountants and HR professionals to provide a range of services to its clients.

Furnley House received funding for the deal from fintech bank Shawbrook, which is also going to finance another Furnley House IFA acquisition expected in the first quarter of 2023.

Stefan Fura, managing director at Furnley House, said: “Our partnership with Shawbrook has been vital to support Superbia Group as it enters a new era of expansion – extending the capabilities of our offering, and reach of our services.

“Shawbrook’s ability to quickly onboard us and provide a line of credit made them an obvious choice when assessing possible lenders. The team also reassured us that deadlines would be met, enabling us to proceed with the acquisition with minimal issues.”

Steve Armstrong, director of corporate lending at Shawbrook, added: “Furnley House has an experienced management team and a history of completing successful acquisitions. It is a pleasure to be able to support them as they continue to expand their business.

“With a strong presence in their market already and strong ambitions for the future, we’re looking forward to seeing and supporting their journey.”

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