Saltus Adds £1bn in AUA with Lowes Financial Management Acquisition
- Chapters Capital
- Feb 17
- 2 min read
17th February 2025
Saltus has successfully acquired Lowes Financial Management, a Newcastle-based wealth firm with a 50-year history and approximately £1bn in AUA. This acquisition represents a significant step in Saltus's expansion strategy and highlights the ongoing trend of private equity-backed consolidation in the wealth management sector.
This transaction follows Saltus's acquisition of Tavistock Partners’ advice and estate planning services in October 2024 for up to £37.75m. With this latest acquisition, Saltus now manages over £7.5bn in assets and employs more than 350 people, experiencing rapid growth since receiving private equity investment from Preservation Capital Partners in 2022.
Barry Hopper and Claire Lockey, Lowes's current management team, will continue to oversee operations, and the business will operate under the Lowes/Saltus name. Longstanding Managing Director Ian Lowes will step down after 23 years, signalling a leadership transition that aligns with broader industry trends in succession planning and growth through mergers and acquisitions.
Hopper emphasised that the merger will bolster Lowes' ability to invest in advanced technology, broaden investment opportunities, and enhance negotiation leverage as part of a larger group. Saltus Managing Partner Jon Macintosh remarked on the strong alignment between the two firms, stating, "We know that the expertise within Lowes will perfectly complement our established offering. We’ve been impressed with the business they’ve developed and are excited about the next steps in our journey together."
Saltus' growth has been driven by private equity, and like many consolidators in the industry, Saltus has relied on acquisition financing to fuel its expansion. Recent filings indicate that Saltus’ debt levels have approached £200m, primarily due to funding its acquisitions. This trend reflects a broader pattern in the financial advisory mergers and acquisitions sector, where firms backed by private equity invest significant capital to scale their operations while managing the financial pressures associated with leveraged growth..
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.