LEBC Group, a national IFA, pensions and employee benefits consultancy, has acquired Bristol based IFA Aspira Corporate Solutions for a total consideration of £5m.
The deal is made up of cash and LEBC shares.
Aspira was established in 2003 and currently employs 50 staff. It has over 11,000 clients with nearly £0.5bn in funds under management.
Aspira will be fully integrated within LEBC. The deal is designed to strengthen LEBC’s presence in the South West, adding further advisory capacity. Derek Miles, Aspira’s Chief Executive, joins LEBC as part of its Senior Management team.
Chief executive of LEBC Jack McVitie said, “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 added: “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.”
