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MBO for Berkeley Berry Birch&#39s nursery Network

Berkeley Berry Birch&#39s nursery network Alpha to Omega has been bought from its parent group in a management buyout deal.

The directors of the Alpha to Omega network have purchased shares from the Berkeley Berry Birch group as an initial consideration for an undisclosed sum.

The 18-firm network becomes an associated partner of BBB which will continue to provide its back office systems and a limited range of other services.

The network was launched in October last year following a £20m share issue from BBB to fund acquisitions and infrastructure improvements.

It was set up to target smaller firms with annual financial turnovers of around £500,000 and was designed to run alongside existing network Berkeley Independent Advisers and non-regulated network Direct Protect. It will continue to target smaller firms.

BBB IFA network division chief executive Richard Howells says: “The key differentiator between our two networks has been that Alpha to Omega is an equity network.

“It was made clear to Alpha members that they were buying shares in that business and there will be a transfer of these shares.

“The final figure for the deal has not been decided and will be subject to trading conditions and the services we continue to provide. As far as we are concerned, the agreement has been reached and we are still very close.”

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