National IFA, LEBC Group (LEBC) has acquired 100 per cent of the share capital of Bristol based IFA, Aspira Corporate Solutions Ltd (Aspira).
Subject to regulatory approval, the transaction is valued at GBP5 million in cash and LEBC shares.
Aspira established in 2003, currently employs 50 staff and has over 11,000 clients with nearly GBP0.5bn in funds under management.
Aspira will be fully integrated within LEBC and the acquisition strengthens substantially LEBC’s presence in the South West adding further advisory capacity that will increase turnover significantly throughout the business. Derek Miles, Aspira’s Chief Executive, joins LEBC as part of its Senior Management team.
Jack McVitie, chief executive of LEBC, 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.”
