Consolidator Progeny has spent more than £237m on adviser buyouts since receiving fresh private equity (PE) backing, new company filings have revealed.
Accounts filed with Companies House last month detail the scale of Progeny’s acquisitions since PE firm Further Global Capital Management bought a majority stake in the business in April 2022.
More than £155m was spent on takeovers in 2023, including the £58m acquisition of international advice firm The Fry Group, a £27m deal for Nottingham-based wealth manager Fiscal Engineers and £25m for Edinburgh’s Carbon Financial Partners.
