Professional services firm’s assets to increase to over £7.5bn with “illustrious” acquisition

Multi-disciplinary professional services firm, Progeny, has announced plans to acquire Chartered financial planning practice, Gibbs Denley.

The acquisition will allow Progeny to extend its footprint to East Anglia and take its assets under management to more than £7.5bn.

Established in 1990, Gibbs Denley has 36 team members, including seven Chartered financial planners, across three offices in Cambridge, Bury St Edmunds and Chelmsford.

Simon Rees, managing director, Gibbs Denley, commented: “Over 30 years we have built a highly successful business by providing exceptional customer service and nurturing trusted, long-term relationships with our clients.

“In becoming part of Progeny we take a quantum leap in the services we provide to our clients, with financial planning, investment management, legal and tax specialists in house.

“We can keep striving to achieve ever-higher standards for our clients and now offer them easy access to a range of additional professional services to meet all their legal and financial needs.”

Neil Moles, CEO of Progeny, added: “A trusted, highly professional and ethical firm with great people: Gibbs Denley is an illustrious business.

“Naturally, we’re very happy that they have joined Progeny, bringing with them a stellar team, superlative standards and a connection with their communities that stretches back many decades. I look forward to what we can achieve together.”

A team from Progeny’s corporate legal department acted as legal adviser to Progeny on the transaction.

By Matthew Neville – Senior Correspondent, Bdaily

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