Craven Street Capital has acted as sole corporate finance adviser to Punter Southall Aspire Limited (“Aspire”) and its shareholders, on the sale of its Employee Benefits Division to Foster Denovo Group Limited (“Foster Denovo”). The business will now form part of its Employee Benefits Division SecondSight, roughly doubling the size of SecondSight.
The transaction is expected to close by the end of 2023.
Secondsight and Punter Southall Aspire unite to create corporate adviser powerhouse
Steve Butler, CEO of Punter Southall Aspire said “Craven Street Capital’s strong background in transactions across the corporate finance spectrum smooths what can be a complicated path to navigate to reaching a mutually agreeable destination. Every deal is different but experienced advisers ensure all involved feel they are on safe ground.”
Aspire is a leading independent financial planning and employee benefits business, with its employee benefits division offering defined contribution consulting and health & protection broking / consulting services to a wide variety of UK defined contribution schemes sponsors and corporates.
The transaction will result in over 700 corporate clients and 56 staff, move to SecondSight where the clients and employees will join a enlarged organisation that reflects Aspire’s commercial momentum and shares their cultural values including on proposition and service. It will provide clients greater depth of expertise and the benefit of scale only achievable as part of an enlarged business.
Foster Denovo is an award-winning UK client focussed financial planning, mortgages and employee benefits business. The transaction will double the teams in size and deepens its national coverage to include Edinburgh, Yorkshire and the south west, in addition to its existing coverage in London, Surrey and the rest of the South East.