London business adviser invests £9.4m in acquisition of financial firm

A London business advisory firm has announced its acquisition of a financial advisor in a deal worth more than £9m.

FRP, which specialises in corporate restructuring, has completed the acquisition of Spectrum Corporate Finance for £9.4m.

The company said that the acquisition will strengthen its position and allow it to support clients suffering the impacts of Covid-19.

FRP will take on all 27 of Spectrum’s employees, including 12 fee earners, four research analysts, four support services workers and the company’s co-founders.

Geoff Rowley, CEO of FRP, commented: “Spectrum is a fantastic business and the team has built a strong reputation, particularly within the UK private equity community, for the quality of service it provides to its clients.

“We have a strong cultural alignment and this deal not only strengthens FRP’s position in the UK mid-cap transactional advisory market, it enables our combined teams to continue supporting clients post Covid-19 as we help to address both their strategic ambitions and provide support as challenges arise.

“The deal also follows our acquisition of JDC Group in September last year, cementing our position as a truly national provider of corporate finance and debt advisory services.

“We are genuinely excited about the contribution the Spectrum team will make to FRP and are looking forward to working together as we support our clients across the UK.”

Simon Davies, co-founder of Spectrum, added: “We are delighted to have found in FRP a partnership that shares our values of professionalism, quality, entrepreneurial spirit and achieving the best possible outcome for clients.

“We are immensely proud of what we have achieved at Spectrum over the past 10 years, and as a new chapter starts with FRP, we are excited at the opportunities this new partnership presents for our team and our clients.

“We are looking forward to continuing to grow our corporate finance and debt advisory businesses nationally, as a combined group.”