Further to the announcement of 6 November 2013, Permira confirms that a company controlled by its funds has today successfully completed the acquisition of Bestinvest, the UK wealth manager and online investment service. Founded in 1986, Bestinvest is a dynamic and fast-growing UK private client investment group which offers a range of services including an online investment platform, investment advice, financial planning and portfolio management.
Philip Muelder, Partner in the Financial Services team at Permira, said: “Bestinvest is an excellent, award-winning business with a strong management team whom we are delighted to back. The UK wealth management industry has strong organic growth characteristics but it also remains fragmented which presents consolidation opportunities. Bestinvest is exceptionally well positioned on both fronts."
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