Moneygate celebrates acquisition
A financial services company in Newcastle is celebrating the acquirement of a City-based financial management firm.
The Moneygate Group Limited acquired Equus Independent Financial Management Limited for an undisclosed sum, in a deal advised by Newcastle based commercial law firm, Muckle LLP.
The acquisition has now seen the total number of advisers reaching 100, and has increased the total value of clients funds it advises on by £1 billion.
Lee Hartley, chief executive of Moneygate said: “We have been looking to make a City-based acquisition to build our London operation around. Equus is a fantastic business with a strong management team.
“We intend to support its growth through investment, the extension of our technology and marketing platform and also by leveraging our process capability to enhance efficiency.”
Moneygate has grown rapidly since its inception in 2006. It now operates across the whole of the UK including Scotland, Wales and Northern Ireland.
To support the deal, the company are now moving into new 10,000 square foot offices in Throgmorton Street in the City.
Lee Hartley added, “We have built an excellent relationship with Muckle and it is a real asset to work with a law firm that understands your business objectives when trying to execute an acquisition that is far from simple.
`’This deal took around 12 months to complete and the advice we received from Muckle throughout the process was invaluable.“