Shackleton has announced the acquisition of the Chetwood Group for an undisclosed amount.

The deal, which remains subject to regulatory approval, marks the nineteenth transaction completed by Shackleton since Sovereign Capital Partners’ initial investment in the group.

Shackleton recently announced that it had entered into a definitive agreement for a majority investment from funds managed by Lee Equity Partners, which succeeded Shackleton’s original private equity investor, Sovereign, which first invested in Skerritts, one of Shackleton’s founding firms, in March 2021.

The Chetwood Group consists of Chetwood Wealth Management, Chetwood Investment Management, Chetwood Private Wealth, Ermin Fosse Financial Management and Darnells Wealth Management.

Shackleton stated that the acquisition is its fourth of the year and will add over £900m in assets under management (AuM), bringing Shackleton’s total assets under advice and management to just over £8bn. Shackleton has also gained 45 new staff members to take it its total number of staff to around 450 nationwide.

“I am really pleased that Chetwood Wealth Management and all group firms are joining us to strengthen our presence in the South West,” said Shackleton CEO, Paul Feeney.

“I have been working with Mark, George and Richard closely over the last couple of months and I am excited about the wealth of experience and expertise they will be bringing to our team.”

Executive chairman at Chetwood Group, Mark Pendarves, added: “Our journey has brought us to a stage where further growth and evolution require significant investment in technology and infrastructure. As a privately owned family business, we’ve made the thoughtful decision to join a like-minded organisation that shares our values and commitment to excellence.

“Becoming part of the Shackleton Group enables us to continue doing what we do best, while drawing on wider expertise and resources to deliver the highest standards of service to our valued clients.”

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