IFA consolidator Fairstone Group has been boosted with a £25m capital injection by private equity backer Synova Capital.
The deal makes Synova the lead investor in Fairstone, previously known as Moneygate, with further cash also likely to be made available to the advice firm in future.
Committed Capital and Northstar Ventures have also retained stakes in the business.
Synova parter Alex Bowden will become a director at the business as part of the deal.
Newcastle-based Fairstone has incorporated 40 firms since 2011, and now has 260 advisers and 60 staff, with £5.8bn funds under advice and £2.4bn under management.
Synova also backs software and information group Defaqto, as well as insurance broker Stackhouse Poland.
Fairstone chief executive Lee Hartley says: “This partnership with a leading mid-market private equity house will allow us to accelerate our successful downstream buy out acquisition model beyond our current forecasts.”