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Deals Of The Day: The Latest In Wealth Management M&A – Progeny, The Fry Group
Editorial Staff
29 June 2022
Progeny, The Fry Group The financial terms were not disclosed. A team from Progeny’s corporate legal department acted as legal advisor to Progeny on the transaction.
UK professional services firm , a business covering tax, estate and financial planning around the world, which was established in 1898 by Thomas Fry
Subject to regulatory approval, the deal will allow Progeny to extend its boundaries beyond the UK and increase its total assets under management to more than £5.5 billion ($6.73 billion), Progeny said in a statement. The Fry Group and all its associated subsidiary companies will become part of Progeny.
Progeny, which operates from offices in London, Leeds, and Edinburgh, will be acquiring a firm with 191 employees across four offices in the UK (London, Worthing, Cheltenham, and Exeter) and four international offices (the United Arab Emirates, Singapore, Hong Kong, and Belgium).
The FCA and all the other relevant regulators in the jurisdictions in which The Fry Group operates are reviewing details to grant approval for the acquisition.