LEBC Group has bought Bristol-based IFA, Aspira Corporate Solutions in a deal valued at £5m in cash and LEBC shares.
Aspira will be fully integrated within the national IFA, and LEBC says the acquisition will bolster its presence in the South West, adding advisory capacity that will increase turnover significantly throughout the business. Aspira chief executive Derek Miles joins LEBC as part of its senior management team.
Aspira was established in 2003, currently employs 50 staff and has over 11,000 clients with nearly £0.5bn in funds under management.
LEBC chief executive Jack McVitie says: “We have known and admired Aspira for many years and this is a significant acquisition for LEBC as it strengthens us further through additional experienced personnel and geographic coverage. Aspira is a very good strategic fit and conducts its client relationships with the same integrity and commitment that we demand.
“I look forward to a successful integration and am delighted to finally have the opportunity to work with Derek Miles as a colleague and fellow shareholder.”
Miles says: “I am delighted that Aspira will be joining Jack and the LEBC Group. As a business that has always focused on our clients and staff, finding a like minded business is never easy, but in LEBC we have found the perfect partner. I am very much looking forward to bringing the two businesses together and to joining the senior management team at LEBC.”