We’re really excited about joining Progeny, and in the process reinvigorating our business to take our service and offering to new levels for our clients. Progeny understand our mindset and, crucially, the aims and ambitions of our clients at a regional and national level.
Paul Glendinning Director for J M Glendinning Financial Services
A larger firm brings opportunities of scale; becoming part of Progeny’s multi-disciplinary business offers unique opportunities for exponential growth. Our clients can now benefit from a vast range of additional services to meet all their legal and financial needs.
Mazars advises on financial services acquisition
The M&A team has advised on the sale of JM Glendinning Financial Services Limited (“JMG FS”) to multi-disciplinary professional services firm Progeny in a deal that was completed in October 2021.
Mark Day and Chris Dale were engaged to provide strategic M&A advice to the JMG FS shareholders, including specialist support on the completion accounts process in order to maximise value for the sellers.
A large and established financial services firm based in Leeds, JMG FS was established in 1987 and specialises in providing financial planning services to a select number of private clients and their families in Yorkshire and around the UK.
The deal will allow Progeny to expand its presence in Leeds and the wider Yorkshire area and Glendinning’s clients will have access to an expanded range of services via Progeny’s multi-disciplinary professional services offering. The deal brings Progeny’s assets under management to over £2.5 billion.
As a result of the deal, Progeny has recruited additional staff to help integrate Glendinnings fully into the Progeny business. This will ensure the advisers and their clients are supported in the same way as the existing Progeny team and that its clients receive the same high level of service as Progeny’s existing clients.
Get in touch
If you would like any further information on this transaction or to understand how we can help support your business, please contact us using the contact form below:
The team
Chris Dale Director - Mergers & Acquisitions
