The Private Wealth sector team at Foot Anstey LLP, has advised The Fry Group on the company’s sale to Progeny, the UK-based independent financial planning, asset management, tax, HR and private and corporate legal services firm.
The Fry Group is a wealth management firm with which Foot Anstey had a long-standing relationship. It offers tax, estate and financial planning services and has a team of 191 employees across four offices in the UK – London, Worthing, Cheltenham and Exeter – and four international offices in the UAE, Singapore, Hong Kong and Belgium.
The sale of The Fry Group to Progeny expands Progeny’s advice reach to Europe, Middle East and Asia, and also increases its total assets under management to more than £7.5bn ($9.35bn, €8.47bn).
Tim Young, Legal Director at Foot Anstey, commented: “We have been working with the team at The Fry Group for a number of years headed by Client Relationship Partner, Alan Hughes, and developed a very good working relationship. So much so that we were asked to support the company on its sale to Progeny.
“Every sale of a business is not just a transaction, but a culmination of the hard work of the business owners behind the company. This is the beginning of a new chapter for The Fry Group and Progeny, and we feel privileged to have been part of the panel of advisory firms involved.”
The Foot Anstey team was led-by corporate Partner, Duncan Sykes and Legal Director, Tim Young who were supported by team members from across the multi-disciplinary firm.