Bestinvest, a London, UK-based wealth manager and online investment service, has been acquired by a company owned by the Permira funds.
The amount of the transaction, which is subject to regulatory approval and is expected to complete in the first quarter of 2014, was not undisclosed.
The Permira funds will back the firm’s plans to continue to expand operations and participate in the on-going industry consolidation.
Founded in 1986 and led by Peter Hall, Chief Executive Officer, and and Mike Covell, Chairman, Bestinvest provides a broad range of services for private investors whether they choose to make their own decisions or require investment advice, financial planning and investment management. It offers an online investment service for self-directed investors, investment advisory and investment management services for clients who do not have the time or inclination to manage their own investments.
The firm employs more than 200 staff and has an extensive network of regional offices.
FinSMEs
09/11/2013