Private Equity Eyes Shackleton as UK Advice M&A Surges
- Chapters Capital
- Mar 3
- 2 min read
3rd March 2025
Private equity's influence in UK wealth management continues to grow as Sovereign Capital aims for a £600m valuation in the sale of its majority stake in Shackleton, the advice group formerly known as Skerritts. While no deal has been confirmed, the sale process is said to be attracting interest from private equity firms, including the US-based Stonepoint Capital, with Lazard overseeing proceedings. If successful, it could be one of the largest financial advice transactions in recent years, reflecting ongoing demand for scaled, vertically integrated wealth management firms.
Since Sovereign's investment in 2021, Shackleton has expanded rapidly, acquiring seven firms in 2024 alone and building an advice business that manages £5.8bn in assets. Under the leadership of Paul Feeney, the former CEO of Quilter, the firm has moved beyond traditional advice by launching its fund range, a managed portfolio service, and a white-label platform in partnership with SS&C Hubwise.
While discussions are ongoing, a £600m valuation would position Shackleton ahead of other notable deals in the advice sector, such as Aviva's £385m acquisition of Succession Wealth in 2022 and Pollen Street Capital's £432m takeover of Mattioli Woods in 2024. Reports indicate that Shackleton is operating within an EBITDA range of £35m, which suggests a multiple of 16-17x, aligning with recent industry transactions.
Shackleton's potential sale comes amid a surge in M&A activity backed by private equity, with firms like Saltus, Pivotal Growth, and Fairstone making significant deals in recent months. As private equity firms continue to invest in wealth management, the emphasis on scale, operational efficiency, and technology integration remains paramount.
For business owners in this sector, this situation underscores the importance of understanding valuation trends, private equity structures, and succession options when contemplating plans.
At Chapters Capital, we specialise in financial planning and wealth management M&A and understand the importance of strategic acquisitions for growth. Whether you are considering a sale, merger, or expansion, contact one of our professional associates today for a confidential, no-obligation consultation.