AnaCap acquires Novia

This is the firm's third investment in a UK-based company. Equity for the deal will be drawn from AnaCap Financial Partners III, which closed on €850m in February 2016 and was 64% deployed in August 2020. Its target segments include mortgage products, small and medium-sized enterprise loans, insurance, factoring, healthcare receivables, debt collections and consumer credit companies.

Total equity in the business was worth £26.7m as of April 2020, according to the company's annual accounts.

AnaCap will focus on organic expansion of the company, as well as identifying bolt-on acquisition opportunities following the transaction.

Novia's board is currently chaired by David Royds, co-founder of Matrix Group. Another member of the board is non-executive director John Beaumont, who has held a number of non-executive roles in public organisations, such as Energis.

Company
Bath-based Novia is an independent wealth management service  established in 2008. It has £8.15bn in assets under management, according to a statement. The company generated £23m in revenues in 2019.

People
AnaCap Financial Partners – Nassim Cherchali (partner).
Novia Financial – Bill Vasilieff (CEO).

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