Skerritts has added more than £1bn in assets with the purchase of Ellis Bates Financial Advisers.
The deal, of an undisclosed sum, has now been given regulatory approval and will completed at the end of September.
Skerritts said the acquisition of the Harrogate-based firm will add to its presence in the North of England as it looks to "accelerate its expansion nationally".
Chief executive, Paul Feeney, said: "Ellis Bates will bring a strong Northern base to the Skerritts Group, with a highly experienced and talented team, and we are incredibly excited to be working together.”
Headquartered in Hove, Skerritts is a chartered financial adviser and wealth manager.
In March 2021, Sovereign Capital Partners, a UK private equity buy and build specialist, invested £55mn to develop the business through organic growth and acquisitions.
Since then, it has completed 11 deals, adding new offices in Chester, Kent, Hampshire, Surrey and London.
Michael Cope, managing director of Ellis Bates, says: “We have known the Sovereign and Skerritts teams for some time now and have been impressed with the robust expansion they have achieved through their buy and build strategy.
"With a 40 year history behind us we are incredibly proud of the business we’ve built but equally ambitious to keep growing and ensure a successful future for our clients and our team.
"In our search for a next-stage growth partner, we have spoken to many other firms, but only Paul has excited us with his vision, ambition and drive to create a truly national, independent, Chartered Financial Planning firm. We also see the same high standards, family values and client centric approach within Skerritts that are so important to us.”
tara.o'connor@ft.com
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