Manchester-based financial advisers Throgmorton Capital Management are on the brink of expansion, facilitated by acquiring client books from Roger Baron IFA Ltd and Jean Pritchett, with financial backing from Shawbrook.
Throgmorton, established in 2018, specialises in financial planning and discretionary investment management services across the UK.
The expansion involves refinancing existing debt and securing additional funds to facilitate the purchase of the client books. The terms of the deal with Shawbrook include a day-one credit facility, with further loans expected to be drawn down in 2024 and 2025.
Throgmorton approached Shawbrook, drawn by the bank’s successful track record in supporting Independent Financial Advisers (IFAs) and its capability to offer flexible funding solutions that accommodate both organic and acquisition-driven growth.
Alasdair McWilliams, founder and director of Throgmorton Capital Management, expressed his enthusiasm about the partnership with Shawbrook.
He said: “We are delighted to now be working with Shawbrook as we move the company into this next phase of its growth journey. Throgmorton provides its clients with high-quality financial planning and investment management services and over the last few years, we have established the firm as an acquirer of choice for retiring advisers in the region.
“These latest acquisitions and the relationship with Shawbrook mark another significant milestone for the company. The deal Shawbrook put together for us provides the flexibility we need to continue our journey and we look forward to continuing our relationship going forward.”
Nathan Burn, new business analyst at Shawbrook, commented on the deal: “Throgmorton is a successful business with an experienced leadership team and a strong company culture, it was a pleasure to work with Alasdair and Brendan on this deal.
“The team at Shawbrook has every confidence that this additional funding will help them grow and expand the business, taking it to new highs with the acquisition of new client books.”
The legal aspects of the deal were managed by Gunnercooke, representing Shawbrook, and Weightmans acting for Throgmorton. DTE Business Advisers Ltd conducted the financial due diligence on the deal.
