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LEBC acquires Bristol IFA in £5m deal

LEBC acquires Bristol IFA in £5m deal

National advice firm LEBC has acquired Bristol-based IFA Aspira Corporate Solutions in a deal worth £5 million. 

Aspira has nearly £500 million in assets under advice and over 11,000 clients, employing 50 staff.

The deal was in part financed by a £1.5 million loan from LEBC's private equity backer BP Marsh & Partners. The remaining money came from LEBC's cash reserves. 

Aspira chief executive Derek Miles will join LEBC as part of the senior management team, as the firm looks to increase its presence in the South West. 

Miles said: 'As a business that has always focused on our clients and staff, finding a like minded business is never easy, but in LEBC we have found the perfect partner.

'I am very much looking forward to bringing the two businesses together and to joining the senior management team at LEBC.'

LEBC chief executive Jack McVitie (pictured) said: 'We have known and admired Aspira for many years and this is a significant acquisition for LEBC as it strengthens us further through additional experienced personnel and geographic coverage.

'Aspira is a very good strategic fit and conducts its client relationships with the same integrity and commitment that we demand.'

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