Shackleton Grows London Presence with £200m Acquisition of PK Financial Planning
- Chapters Capital
- Mar 27
- 2 min read
27th March 2025
National consolidator Shackleton has expanded its presence in the UK financial advisory market by acquiring London-based PK Financial Planning and its discretionary fund management (DFM) subsidiary, PK Wealth. This acquisition adds approximately £200m in AUM, bringing Shackleton's total assets to around £6bn and continuing its aggressive growth trajectory.
In addition to the financial assets, Shackleton will gain an employee benefits consultancy through this transaction, which aligns with the group's goal of diversifying and enhancing its client offerings. PK Wealth is led by industry veteran Michael Usher, who served as a long-standing director at Brooks Macdonald Asset Management and founding director of the DFM at Connor Broadley. His experience aligns with Shackleton’s strategic vision to strengthen its investment management capabilities alongside its financial advisory services.
This acquisition comes as Shackleton's private equity backer, Sovereign Capital, is preparing to sell the consolidator. Sovereign Capital has set an ambitious valuation target of around £600m for Shackleton, indicating substantial interest from potential buyers, including various private equity firms. The sale process is being facilitated by the global investment banking advisory firm Lazard, reflecting the increased level of mergers and acquisitions activity within the UK advisory market.
Since receiving investment from Sovereign Capital, Shackleton has completed 17 acquisitions, primarily structured with deferred payments. This approach is popular among financial consolidators, as it balances growth ambitions with prudent financial management.
Overall, this deal reinforces ongoing trends of vertical integration within the advisory sector, where consolidators strategically acquire complementary capabilities, such as discretionary fund management and employee benefits consulting, to provide a more comprehensive client service offering.
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.