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Cabot Square acquires majority stake in broker SPF Private Clients

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  • 12/03/2018
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Cabot Square acquires majority stake in broker SPF Private Clients
SPF Private Clients has confirmed private equity investor Cabot Square Capital has bought a majority shareholding in the national mortgage, general insurance and wealth management brokerage for an undisclosed amount.

“This gives us the ability to both acquire and grow the business,” said Mark Harris, CEO at SPF, which stands at 140 employees.

Harris said: “We are delighted to have Cabot on board as a shareholder in the business. We are already working on a number of exciting opportunities to develop and enhance the SPF proposition for our clients and business partners.”

The articles of association on the deal was signed on the 31 January and Cabot Square Capital employees James Page and Tarun Sharma have joined the SPF Board of Directors.

As part of the transaction, Savills PLC has sold its minority stake in SPF, while agreeing a long-term financial services agreement for SPF to continue to provide financial services to the group.

Savills group legal director and company secretary Christopher Lee has stepped back from the Board.

Cabot Square declined to comment.

 

Private equity

However, Cabot invests capital in small and mid-sized companies in the UK and Western Europe for ‘growth and acquisitions, innovative management ideas, creative problem solving and strategic long-term planning.’

Its website said: “We invest in companies supported by strong cash flow and real assets with competitive positions in growing markets. Our investment focus includes financial services, operating property and infrastructure.”

Cabot manages several institutional investment funds and is regulated by the Financial Conduct Authority.

SPF Private Clients was formed in 2011 after a management buyout and rebrand of Savills Private Finance, the financial arm of Savills Plc.

The firm has six offices, two in London, Nottingham, Manchester, Oxford and Guernsey and has a raft of specialisms including commercial, short term finance and high-value new build.

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