Perspective gets £10.6m boost for acquisitions

IFA consolidator Perspective Financial Group has raised £10.6m for further acquisitions as it aims to add to the 20 business it has already purchased.

Mosaic Private Equity, Perspective's original equity investor, has invested £7.1m while £3.5m has been obtained through a further acquisition facility from Lloyds Banking Group.

It says the facility was secured through a specialist strategic debt solutions team at Lloyds Bank Corporate Markets in Manchester.

Damian Keeling, managing director of Perspective Financial Group, says: "We are particularly pleased to have raised this finance to fund both our future acquisition strategy and an ambitious organic growth plan over the next two years.

"The exercise has been a vote of confidence in our strategy from both Mosaic and Lloyds Banking Group.

"This continued commitment from Mosaic and Lloyds Banking Group shows the value that we have delivered consistently since we began the Perspective Financial Group proposition almost three years ago."

Perspective's annualised turnover is now over £17m and the firm will announce further acquisitions in Q2.