Foster Denovo

Canaccord Genuity Acts as Exclusive Financial Adviser to Foster Denovo Group on the Acquisition and Financing of Punter Southall Aspire

Canaccord Genuity is pleased to announce that it has acted as the exclusive financial adviser to Foster Denovo Group Limited (“Foster Denovo” or the “Group”) on the acquisition of Punter Southall Aspire’s employee benefits business and a further capital raise from Crestline Investors, Inc (“Crestline”).

Foster Denovo is a multi-award winning vertically integrated financial advice and investment management platform serving private and corporate clients.  The Group has a presence across the UK with nine offices. The transaction is transformational for Foster Denovo and will see the addition of 56 Punter Southall Aspire employee benefits consultancy staff and 700 corporate clients to Foster Denovo’s employee benefits division, Secondsight, doubling the size of the business and creating a corporate adviser powerhouse in the UK.

This is Foster Denovo’s third acquisition this year and its significant scale results in the full deployment of the previous capital investment by Crestline. 

Accordingly, simultaneous with the acquisition, Foster Denovo has agreed a substantial tranche of additional capital from Crestline, doubling the size of its investment in the Group.  This additional primary capital allows the Group to remain unburdened by traditional debt whilst it continues its growth strategy including further acquisitions.  Crestline initially invested in Foster Denovo in April 2022, in a fundraising which was also advised by Canaccord Genuity.

The fundraising and acquisition reinforces our strong track record in delivering innovative growth solutions to our clients, and a further successful transaction as financial adviser to the wealth management sector.