Leading investment and advisory firm Beckett Investment Management Group has been acquired by Foresight.
Becketts acquired by Foresight
Becketts works with over 2,900 clients, and manages in excess of £775m of assets across a diversified mix of investment portfolios. The firm has 80 members of staff operating from four offices across the East of England, and was founded by out-going chairman Bob Beckett in 1988.
“Foresight’s investment will support the next phase of development and growth for our firm,” said Managing Director, Ian White, who will continue to lead Becketts. “We are a purpose-led organisation that is passionate about playing a valued role in the community that we serve, promoting financial and emotional health and wellbeing to our clients and to wider society.”
Foresight is one of the most active investors in SMEs in the UK, with flexible capital to fund companies in any sector through a wide range of transactions and growth stages. With seven offices across the UK, the Foresight team works closely with entrepreneurs and management teams - an approach that has delivered strong returns to investors for over 35 years.
This deal represents the third investment from the £100 million Foresight East of England Fund that targets equity investments in small and medium-sized business (SMEs) in the East of England and beyond.
Malcolm Streatfield became the new chair person at Becketts on 1st April 2021. Malcolm was a member of the FCA’s Practitioner’s Panel, and has more than 40 years’ experience in financial services – including CEO of the Lighthouse Group.
Matt McLoughlin, Senior Investment Manager at Foresight, added: “Becketts has a well-deserved leading reputation in Suffolk and the wider region as a differentiated and trusted advisor to both private clients and companies, with a strong set of values. Bob, Ian and the team have built a successful business which demonstrates outstanding engagement with the people in its teams and in the communities it serves. The company is well-positioned for continuing growth and we look forward to working together in the coming years.”
Paul Tysoe, Investment Manager, Cambridgeshire Pension Fund, added “The investment into Becketts is another exciting opportunity for the Foresight East of England Fund to support a well-established business at the heart of the East Anglia region. Becketts has strong reputation for delivering outstanding service to its clients and I am looking forward to seeing the company’s next stage of growth under its new leadership”
Legal advice for the deal was provided by East Anglian firms Birketts and Freeths. PURE Consulting were given the task of recruiting the new chair person.
Becketts is a multi-award-winning firm of Chartered Financial Planners and Employee Benefit specialists. We began trading in 1988 and we are recognised as being one of the Top 100 financial firms in the UK. We currently manage around £0.9 billion of private client funds and we operate from four offices across the East of England.