Synova-backed Fairstone acquires Mantle Financial Planning

This is the seventh company acquired by Fairstone through its Downstream Buy Out model. This model focuses on integrating IFA firms, typically over a two-year period, before finally acquiring the business.

Synova Capital portfolio company Fairstone acquired domestic IFA firms Goodman Chartered Financial Planners and East Devon Associates in April 2020. 

Synova committed £25m to the development of Fairstone in 2016, drawing equity from its Synova III vehicle, which closed on £250m in January of that year. The fund has yet to make a realisation.

Company
Mantle Financial Planning has two offices, one in Epsom and another in Twickenham, and specialises in pension planning and investment management.

Founded in 1999, the company employs 11 advisers and 13 support staff. It has gross fee income of £3.3m and funds under management of more than £480m.

People
Fairstone – Lee Hartley (CEO).

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