Investec advises Novia Financial on its sale to AnaCap
Investec acted as financial advisor to Novia Financial, a leading UK wealth management platform, on its sale to AnaCap Financial Partners, a leading financial services specialist mid-market private equity investor.
Completion of the deal remains subject to regulatory approval.
The acquisition of Novia marks the third investment for AnaCap in the UK wealth management platform space.
Across the three investments, AnaCap have now acquired almost £11 billion AuM and will continue to deploy its expertise in tech-enabled businesses and operational engagement to bolster the businesses organic expansion as well as continuing to identify attractive bolt-on acquisition opportunities.
Novia is the UK’s third largest independent investment and wrap platform by asset under management (“AuM”), having been established in 2008. It records an AuM figure of £8.15 billion and serves a client base of ~67,000 through more than 1,000 IFA firms. Novia operates one of the best technology offerings in the industry, spearheaded by its modern, adaptable and proprietary front-end.