CBPE backs Perspective Financial Group buyout

CBPE secured a majority stake in the business, with the existing management team reinvesting significantly, Unquote understands.

The mid-market investor held a final close for its ninth fund, CBPE Capital Fund IX, on its £459m hard-cap in 2016. The vehicle targets UK companies with enterprise values of £25-150m and looks to make around 14 investments in total with an average ticket size of €30-35m.

The GP and management are aiming at continued organic growth, as well as making acquisitions in what they deem to be a highly fragmented market.

CBPE has experience investing in the financial services sectors, with past investments including fund admin business JTC and pensions consultancy Xafinity (both eventually listed). Current portfolio companies in that space include Compre and Xceptor.

Company
Perspective is a UK-focused financial planning and wealth advisory business with 185 staff across 15 offices. It helps clients who are looking for advice on retirement planning, investment, inheritance tax planning, personal wealth or corporate planning. Through its Cambridge Investments offering, Perspective also offers investment management services to its wealth advisory clients.

According to public records, the business posted a £17m turnover and £2.3m operating profit in 2018.

People
CBPE Capital – Richard Thompson, Harry Hewlett, Oliver Walton, Ian Moore.

Advisers
Equity – Zeus Capital (corporate finance); Mayer Brown (legal); PwC (financial due diligence, tax); LEK (commercial due diligence); AJ Gallagher (insurance due diligence); Intechnica (IT due diligence).
Vendors – KPMG (corporate finance); DWF (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Financials
• UK / Ireland
• Close Brothers Private Equity (CBPE)
• United Kingdom