Newell-Palmer continues on the acquisition trail, completing its 37th deal and the fourth of 2015.
Newcastle-Under-Lyme based Adams Russell has been acquired for an undisclosed sum and brings an additional £50m of funds under management and 150 clients to the Newell Palmer fold. Adams Russell has been active around the Stoke-on-Trent and Staffordshire areas for more than 26 years.
Newell Palmer say they aim to increase their FUM to £1bn within the next three years and acquisitions to-date have ranged between £30,000 to £2m in consideration. The Group has more than quadrupled its FUM in the last five years, growing through acquisition and referrals.
Financial Director of Newell Palmer Kevin Homfray said: “Acquisitions form an integral part of our growth strategy for 2015 and beyond, we are always on the lookout for firms that fit well with our business model and Adams Russell Ltd is an excellent example of this.”
Director of Adams Russell Nicolas Adams said: “after an extensive search to find a firm where I could relocate my clients with confidence; I met Newell Palmer. I know my clients will be in good hands and I will be working closely with Newell Palmer over coming months. I am confident that my clients will be impressed with the high quality service they will receive from a larger company equipped to handle their needs.”