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Transcend advises on the sale of Ashburn Wealth Management

The corporate finance advisory team at Transcend Corporate have advised the shareholders of Ashburn Wealth Management Limited on the sale of their business to Attivo Group Limited (Attivo).

Ashburn is a provider of a comprehensive range of wealth planning solutions for private and corporate clients, based in the North East of England, focusing on providing long-term financial planning and investment strategies, with funds under management approaching £200m. Ashburn was established by founders Stephen Waite and Nicholas Millar in 2008.  Stephen remains with the business and continues with Attivo following the sale.

Attivo is a Chartered, independent lifestyle financial planning firm, established in 2005 by chairman Stephen Harper. Since then it has grown significantly, both organically and through a number of acquisitions, and now has client funds under management of £3B.

Stephen Waite said:

“This transaction represents a great outcome for Ashburn and the fit with Attivo is very strong. Clients and staff of Ashburn will benefit from joining Attivo, with the greater resources and market access they offer. Our teams are looking forward to working together.

The Transcend team have provided great support throughout the process. They identified the right buyer in Attivo and delivered a result that has allowed the shareholders to realise the value that we have created in Ashburn”.

Transcend Corporate partner, Steve Bartlett, commented: “We are delighted to have been able to help Stephen and the Ashburn team. We were focused on finding a buyer that both delivered the right deal for Ashburn shareholders and could continue to provide the right level of advice to the client base. Attivo fits that brief perfectly and this deal will allow both Ashburn and Attivo to continue their growth and to leverage the clear benefits that this exciting business combination now creates.”

Stephen Harper, chairman of Attivo, said:
“We are delighted with the acquisition of Ashburn. This brings a valued portfolio of clients to Attivo and we look forward to continuing to provide high-quality, personal financial planning services to them. We welcome the Ashburn team to our business and look forward to working together into the future.”