Shackleton Advisers Limited (“Shackleton”) is delighted to announce it has entered into a definitive agreement for a majority investment from funds managed by Lee Equity Partners, LLC (“Lee Equity”). Lee Equity will succeed Shackleton’s current private equity investor, Sovereign Capital Partners (“Sovereign”) who first invested in Skerritts, one of Shackleton’s founding firms, in March 2021.
Since Sovereign’s investment, the business has undertaken 18 strategic acquisitions to expand its footprint across the UK and establish itself as a leading, nationwide financial advice group with a presence in major towns and cities across the country. The Skerritts group rebranded to Shackleton in December 2024, uniting its founding firms under a single brand, approach and set of values, positioning it as Britain’s Financial Adviser. Lee Equity’s investment will support Shackleton’s strategic ambitions as it continues to capitalise on strong organic growth momentum and opportunities arising from industry consolidation.
Founded in 2006, Lee Equity is a New York-based private equity firm that partners with businesses in the financial and healthcare services sectors. Over nearly two decades the firm has utilised its thematic-based investment strategy and deep sector knowledge to identify and partner with talented management teams to accelerate growth and build market leading businesses.
Paul Feeney, Chief Executive Officer of Shackleton, said: “We launched the Shackleton brand late last year with the vision of becoming Britain’s Financial Adviser, by providing trusted, fair and affordable financial advice to people right across our nation. We are one step closer to achieving that vision today as we welcome our new private equity partners, Lee Equity. With Lee Equity’s backing we have secured very significant international investment not just for Shackleton but also for our country. Thank you, Sovereign, you have been great supporters, and welcome, Lee Equity. The journey continues.”
Andrew Fisher, Chairman of Shackleton, said: “I would like to thank Sovereign for all their support over the last four years. Since 2021, with their investment, we have grown rapidly through organic and acquisitive growth, strengthening our presence across the UK and establishing the business as a leading nationwide provider of financial advice.”
Danny Rodriguez, Partner at Lee Equity, said: “We are thrilled to partner with Paul Feeney, Andrew Fisher, and the entire Shackleton team at this exciting stage of the company’s growth. We have a long track record of investing in, and supporting, leading wealth management businesses, and we believe Shackleton is uniquely positioned to capitalise on the growth opportunity in the UK market. The Shackleton team has built an exceptional platform with strong momentum, and we look forward to working together to further grow and scale the business in the years ahead.”
Alex Hay, Partner at Sovereign, said: “We are delighted to have worked alongside the Shackleton team to transform it from a regional South East business into a truly national wealth management platform. Alongside an exceptional management team, we have created Britain's Financial Adviser of choice through strategic acquisitions and the recruitment of industry-leading talent. This transformation demonstrates the significant consolidation opportunity within the fragmented IFA sector, and we're confident that Shackleton is uniquely positioned for its next phase of growth under new ownership.”
The deal remains subject to regulatory approval.
Lazard (M&A) and Pinsent Masons (legal) advised Shackleton. Evercore (M&A) and Proskauer (legal) advised Lee Equity.
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