Houlihan Lokey Advises Wren Sterling

Houlihan Lokey is pleased to announce that Wren Sterling, a portfolio company of Palatine, has been acquired by investment funds affiliated with Lightyear Capital. The transaction closed on 23 December 2021.

Wren Sterling was created in 2015 through the Palatine-backed management buyout of Towergate Financial. Over the subsequent six years, the investment has driven strong growth at the firm, increasing its assets under management significantly to £4.6 billion and achieving a substantial increase in profitability. Drawing on its expertise in successful buy-and-build strategies, Wren Sterling has completed eight bolt-on acquisitions during the investment period, including four in 2021, expanding its presence to seven offices across the UK.

Lightyear Capital is a New York-based private equity firm that specialises in investing in companies associated with financial services, including a dedicated focus on asset and wealth management. All of Wren Sterling’s management team and staff members are expected to remain in place.

Houlihan Lokey served as the sellside advisor to Wren Sterling and Palatine.

This most recent transaction further strengthens Houlihan Lokey’s leadership in the European wealth management and pensions sector, where the team has advised on a number of transactions, including Ascot Lloyd, Formuesforvaltning, Saunderson House, Arbuthnot, James Hay, Succession, LCP, Redington, and Mobius Life.