Waterland Private Equity has agreed to invest in the parent group of advice firm Cooper Parry Wealth.
Under the terms of the transaction, which remains subject to regulatory approvals, Cooper Parry will convert into a limited company with Waterland as a significant shareholder and the partners retaining a substantial equity stake.
The deal also involves Cooper Parry’s advice arm – which will use the funding to “accelerate growth”.
Cooper Parry Wealth achieved 500% growth in the last eight years, and with the PE backing, the firm said it “will turbocharge” growth and give it the opportunity to “look at strategic acquisitions”.
It added that it is currently looking at a “number of realistic options” in terms of acquisitions across the UK advice space.
Overall, the Cooper Parry group is utilising the PE deal to expand internationally. Cooper Parry Wealth said it “is more UK-focused and sees sufficient growth opportunities” across Britain, however the advice business admitted that it “would not rule anything out”.
Stephen Jones, Cooper Parry Wealth chief executive, told International Adviser: “This deal just feels right. It’s the right time to help us turn our ambitious vision into reality. It’s the right fit with a business who bought into this vision. And, frankly, it’s going to accelerate our journey on our chosen direction of travel.”
The financial terms of the deal were not disclosed.
