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Capital and Trust - August 3, 2022 - 0 minute read

Preservation Capital Partners (PCP) a private equity firm specialising in investing in high growth financial technology and services sector, will take a majority stake (50.1%) in wealth manager and Financial Planning firm Saltus for an undisclosed sum.

The Saltus Group employs over 120 people. It has assets under management and advice of £2.3b and expects to reach £4b by the end of the year. Saltus will remain a standalone proposition with no major changes for clients. It said it plans to use the funds from the investment to develop its technology and broaden the reach of the Saltus Partnerships Programme. The SPP is a new initiative which combines the group’s technology with its platform and investment offerings to create a flexible solution for advisers.

PCP was attracted to invest in Saltus due to its double-digital organic growth rates, high retention rates and vertically integrated business model.

Management and existing individual shareholders will continue to hold a stake in the company. Managing director of PCP, Andrea Secci will join the board of Saltus along with PCP managing partner Jatender Auijla.

Secci said: “The central principle of our investment approach is to back outstanding management teams that have demonstrated an ability to outperform the market. Saltus has industry-leading double-digit organic growth rates, incredibly high retention and a unique vertically integrated business model. We are delighted to be supporting the firm to supercharge growth and make that ambition a reality.”

Managing partner at Saltus, Jon Macintosh, said: “We have grown significantly over the past few years – both organically and through the acquisitions we have made – and as a result are seeing increasing demand from high net worth clients for our goal-focussed Financial Planning and wealth management services.

“The next step in our evolution is to create an offering to support the UK’s most sophisticated and high-end financial advisers so that they can grow their business faster, maximise value, and focus on doing the bits of their job they love the most – looking after clients and winning new ones. We believe PCP’s insight, experience and capital will significantly enhance our ability to expand the Saltus business and cement our position as the leading HNW wealth manager in the UK.”

If you’d like a confidential, obligation-free discussion about selling or acquiring a Wealth Management / Asset Management business, please click here, alternatively contact us on 0207-043-4300 or email us.

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