2020

Year

Acquisition Financing

Transaction Type

Financial Services

Sector

HFMC Wealth

Client

ThinCats

Lender

HFMC Wealth

Cavendish, part of finnCap Group, has advised HFMC Wealth on securing debt facilities to facilitate the acquisition of Aspinalls Group.

David Aspinall, founder and Executive Chairman of Aspinalls Group, said: “To ensure continuity for our clients, it was vital that any such partner shared our values and those of our clients, whilst mirroring our approach to wealth management. I wanted to have complete confidence that our clients would continue to receive high-quality ongoing advice and service for as long as they need it.

“In HFMC Wealth we have found a partner that meets all these requirements and who will protect the legacy of the business we are proud to have built over the last 38 years.”

The purchase of Aspinalls adds assets under management (“AUM”) of over £130m and brings total AUM for the Group in excess of £1.4bn. The acquisition represents a return to M&A for HFMC following their previous acquisition of Generic Financial Management (in October 2018) as management continues to progress their ambitious growth strategy with further acquisitions expected to add new products and future expansion.

Senior debt facilities were provided by ThinCats to refinance an existing Natwest facility and also fund the Aspinalls consideration.

Jeremy Hoyland, CEO of HFMC Wealth, commented:

“We are delighted to have been able to deliver this carefully selected acquisition which is a key part of our growth plan. The support and funding put in place by finnCap and provided by ThinCats allows us to pursue other potential acquisitions with like-minded wealth and financial planning firms and we expect further deals to be agreed during the next year as we continue our growth strategy. We are building a financial planning and wealth management business that retains the depth of understanding and relationship that comes with being a client focussed business whilst providing the range of services normally associated with a Private Bank. finnCap provided us with the knowledge of market and debt structure expertise that we didn’t have in house and we very much look forward to working together on future acquisitions.”

Dave Sherrington, Regional Head of Sales at ThinCats, said:

“We are delighted to have worked closely with finnCap Group to create a funding solution to support HFMC with its growth plans. Wealth management is a long-term growth sector and HFMC is well-placed to benefit. We look forward to supporting them in the years ahead.”

Alistair Hay, Partner and Head of Debt Advisory at finnCap Group, commented:

“We are grateful for the opportunity to work with Jeremy and his team on financing this important acquisition. In ThinCats, the Group has a supportive, long-term financing partner who invested the time in understanding the business and tailored a debt structure accordingly. We look forward to working together with both parties in the future.”

Key Contacts

Alistair Hay

Partner & Head of Debt Advisory

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Graham Cooke

Partner, Debt Advisory

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Krishan Raval

Associate, Debt Advisory

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