FRP buys Spectrum Corporate Finance

The deal was valued at £9.4m, FRP said in a statement.

As part of the transaction, all 27 Spectrum employees will join FRP, the latter said in a statement. This includes Spectrum's co-founders, in addition to Mark Farlow, Simon Sherliker, Darren Miller and James Mines, who all join FRP as partners. They will be joined by 12 fee earners, four research analysts and four colleagues in support services.

The deal follows FRP's acquisition of JDC Group in September last year. FRP's UK corporate finance and debt advisory teams will now comprise 48 fee earners, including 18 partners, across nine locations.

Founded in 2010 by Simon Davies, Clive Hatchard and Ian Milne, Spectrum is an independent corporate finance and debt advisory firm focused on the south of England. It provides strategic support and advice for owner-managed businesses and their funders across the UK mid-market from its offices in Reading and London, with particular focus on the Central South, South East and London markets.

In 2020, Spectrum's corporate finance team advised on 25 completed transactions with a combined deal value of more than £900m, the firm said in a statement. This included advising on the acquisition of VIPR by Tenzing Private Equity, the sale of Babble on behalf of LDC to Graphite Capital, and the sale of Porterhouse Medical to IMC group in a deal backed by Waterland Private Equity.

Spectrum's debt advisory team also advised on £440m of debt raised for business owners, investors and management teams.

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