- Emet Financial Services (Emet), Merlin Wealth Planning (Merlin) and Mayfayre Financial Services (Mayfayre) will merge under MRW Group;
- The Group provides independent financial advice to over 1,500 clients, with over
£150 million assets under management;
- The loan facility will be used to support the Group’s ambitious buy-and-build strategy, including further acquisitions expected this year.
OakNorth, the neobank for entrepreneurs, by entrepreneurs, has completed a tailored loan facility to MRW Group to support its buy-and-build strategy, starting with the acquisition of three IFA businesses.
The transaction brings together Emet Financial Services, founded in 2015, Merlin Wealth Planning, founded in 2018, and Mayfayre Financial Services, founded in 2004, under a newly established and independently owned holding company, MRW Group. James Moyses and Adam Royce, founders of Merlin Wealth Planning, will join MRW Group.
The Group provides independent financial planning, investment, and pensions advice to both individuals and corporates, serving over 1,500 clients with over £150 million of assets under management. The Group currently has offices in Cambridgeshire, Buckinghamshire, and Somerset, with further expansion planned this year.
The combined Group has completed ten acquisitions since 2019 and the loan facility from OakNorth will be used to accelerate its acquisition programme.
Steve Winter, Director of MRW Group, commented: “The merger of Emet, Merlin, and Mayfayre brings together three established firms that share the same client-led values, with a personalised approach built on trust and stability. This funding from OakNorth is an exciting next step in our ambitious and proven buy-and-build strategy. The OakNorth team invested significant time and effort to understand a complex transaction, with an outstanding level of commitment and service that we recognise from our own business.”
Stewart Haworth, Director of Debt Finance at OakNorth, added: “We were delighted to support MRW Group on this transaction – it is a clear demonstration of the breadth and depth of experience we have at OakNorth, and our ability to support businesses with complex transactions. Adam, James, and Steve have almost 70 years of IFA and M&A experience between them, so have a clear understanding of the market dynamics and opportunities. I have no doubt MRW’s buy-and-build strategy will be a huge success, and we look forward to supporting them on future acquisitions.”
Notes to editors
About OakNorth Bank plc
Launched in September 2015 and founded by entrepreneurs, OakNorth Bank provides fast, flexible, and accessible debt finance to the UK’s Missing Middle.
Since its launch, the bank has:
- Lent over £10b, directly helping with the creation of 40,000 new jobs and 29,000 new homes across the UK.
- Raised deposits from c.175,000 savers.
- Supported several hundred businesses across the UK with the debt finance to pursue their growth ambitions.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.