National advice group Towry has bought out Lighthouse’s 50.1% stake in Bristol-based firm Deverill Black & Company for £501,000.
Lighthouse said it had concluded its stake in Deverill & Black, an appointed representative of the group, was not strategic. It added the £501,000 price would be retained as part of the group’s working capital.
Deverill Black recorded a profit before tax of £44,173 over 2012.
In a separate announcement, Lighthouse said group risk director and company secretary Mark Ross was leaving the business.