View more on these topics

Towergate in talks over £200m private equity deal

Towergate is thought to be close to be agreeing a £200m cash injection from private equity firm Advent International.

Towergate executive chairman Peter Cullum is reportedly holding exclusive talks with Advent which if successful would mean Advent taking a significant minority stake in the company.

Cullum was awarded a CBE in the new year’s honours list for his services to business and to charity.

Towergate has made it known that it is on the acquisition trail. Towergate Financial acquired A1 Financial Services in December, after announcing in August it was in talks to acquire four companies.

The company also bought mortgage brokerage John Charcol out of administration last February.

In addition, group subsidiary Towergate Healthcare bought Origen’s healthcare business in December, but did not disclose the terms of the sale.

Recommended

Bruce Wilson

The founder of Helm Godfrey is stepping down as managing director to focus more on Project Eve which aims to change the face of financial services by bringing life planning to the lower-income sector.

2

Estate agents urge housing minister to apply pressure on MMR

Estate agents have called on housing minister Grant Shapps (pictured) to challenge the proposals in the mortgage market review when he meets with FSA chief executive Hector Sants this week. The National Association of Estate Agents says the proposals, in their current format, would result in 150,000 fewer house purchase transactions each year. NAEA chief […]

15

A closer look at Hector Sants’ RDR estimates

Speaking before Christmas at an event organised by PanaceaIFA, Treasury select committee member Mark Garnier told assembled IFAs the committee was a rather dull bunch, reliant on data and facts to reach their collective conclusions. Garnier was impressing on advisers the need to back up their emotional views on the RDR with evidence of the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. “£200m cash injection from private equity firm Advent International”
    “Advent taking a significant minority stake in the company”

    You must be refering to Towergate Partnership rather than Towergate Financial as I can not see how TF is valued at greater than £200m.

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com