Tier One Capital completes Carrick Financial Management acquisition

Newcastle-based wealth management company Tier One Capital Ltd has acquired fellow North East firm Carrick Financial Management Limited.

Having already acquired a large share of the independent advisory firm in April 2018, Tier One Capital has now purchased the whole company as part of the continued growth and expansion of its wealth management, investment management and direct lending services.

Tier One Capital will fully integrate Carrick Financial Management into its financial operations, retaining its talented and experienced team of independent financial advisors and support staff.

North East independent law firm for businesses Muckle LLP advised on the deal, which will enable Tier One Capital to provide a wider product offering, create additional opportunities in the financial market and to expand and diversify its wealth management client base.

Ian McElroy, chief executive at Tier One Capital, said: “Completing the acquisition of Carrick Financial Management is a key milestone in the future strategic growth of Tier One Capital.

“It will enable us to develop more extensive capabilities for a wider customer offering, which will benefit a growing number of private individuals, corporate clients and charities.

 

 

“It is vitally important we continue to build on our current momentum and generate an even greater market presence regionally, nationally and internationally.”

Jess Swindells, managing director, added: “These are exciting times for Tier One Capital and this acquisition will now allow our North East clients to gain access to independent financial advice at an earlier stage, and to gain unrivalled access to larger scale and bespoke investment and lending opportunities.”

Paul Blight, co-founder of Carrick Financial Management and the new head of wealth management at Tier One Capital, said: “Working alongside the team at Tier One Capital over the last few years has been very positive and becoming a part of their business has been a very natural development.

“There are some very strong synergies between the two firms, as well as individual strengths, which combined will offer our clients an enhanced level of expertise and service excellence.”

Advising Tier One Capital on the acquisition were lawyers Philip Clare, Stuart Grieve and Sara Mullen from Muckle LLP, with corporate finance advice from Newcastle-based Inveniam Corporate Finance.

Legal advice to Carrick Financial Management was provided by Mincoffs.

Muckle LLP’s Stuart Grieve said: “We are delighted to have worked with the Tier One Capital team to help deliver a deal that supports the successful coming together of both organisations and provides them with a clear path for continued strategic growth going forward.”

Lee Humble, corporate finance director at Inveniam Corporate Finance Limited, added: “Having worked with the management teams over the last two years, we can see a bright future lies ahead and the combined, vast service offering will benefit both existing and new clients of the business.

“We are delighted to have assisted both businesses with this transaction.”