UK law firm Ashfords has advised the shareholders of wealth management group Craven Street Wealth on its sale to the rebranded Quanta Group, a portfolio company of AnaCap Financial Partners comprising the Wealthtime Group.
Ashfords has previously supported client Craven Street Wealth throughout its growth journey, including on the cornerstone purchase and management buy-out of Kreston Reeves Financial Planning in March 2021, and the subsequent bolt-on acquisitions of Bernard Barrett Associates and Punter Southall Aspire.
Craven Street Wealth now manages c £2 billion of assets for over 3,500 clients. Tom Barnett, its managing director, will join the Quanta Group executive committee.
Soondra Appavoo, CEO of Craven Street Group, said:
'Ashfords has been an essential and valued legal partner on what has been an exciting four-year growth journey from investment to sale. A core part of the team - they have been integral in addressing often complex legal challenges across a series of transactions in a pragmatic and commercial way.'
Corporate partner Jocelyn Ormond commented:
'It’s been exciting to support what is now a £2 billion adviser Craven Street Wealth and its investors on its growth journey since its establishment in 2021. This sale has been a complicated transaction to execute over many months, and the successful completion is testament to the deal execution skills of the Craven Street Wealth team and the dedicated team at Ashfords who have worked with the client over many years.'
The sale was led by corporate partner Jocelyn Ormond, supported by corporate lawyers Ross Van de Velde and Chelsey Noone. Partners Angus Bauer, Ed Hobbs, Suzie Miles, Su Apps and Andrew Worley advised on tax, banking & finance, commercial, employment and real estate matters, respectively. Ashfords' financial regulatory specialist Oliver Woodhouse advised on FCA regulatory matters.
Ashfords' corporate team advises and negotiates on the legal aspects integral to successful corporate activities for businesses and their investors and has extensive expertise in traditional M&A and capital market listings, venture and growth capital, and private equity investments.
For further information please contact our corporate team.
