Maven delivers profitable partial exit of Titan Wealth

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    Titan Wealth was established in 2021 as a buy and build platform to consolidate the Discretionary Fund Management sector and has grown quickly following a period of significant M&A activity. The sale to a US-based private equity firm would achieve a strong return for investors after just 18 months and enables Maven to reinvest into newco.

    Published: Feb 21, 2023
    Focus: Private Equity

    Maven has exchanged contracts on the sale of Titan Wealth (Titan) to Parthenon Capital (Parthenon). The transaction is subject to regulatory approval and the customary closing conditions.

    The Maven UK Regional Buyout Fund originally backed the Titan team in July 2021 supporting their ambitious strategy to disrupt the Discretionary Fund Management sector in the UK.

    Titan was formed to provide a fully vertically integrated suite of services to investment managers and independent financial advisers, through a central proposition that combines discretionary fund management with trade, custody and settlement services available through a leading integrated technology platform. Led by James Kaberry and Andrew Fearon, two highly experienced financial services entrepreneurs, the business has undergone transformational growth through its M&A strategy, including the acquisitions of Cardale Asset Management, Baggette Asset Management, Haibun Wealth and Goldsborough Wealth.

    James Kaberry and Andrew Fearon from Titan WealthPictured: James Kaberry and Andrew Fearon

    The investment from Parthenon will provide additional capital to the business to enable it to drive further organic growth as well as fund future M&A. Parthenon is a leading US-based, private equity firm with a long track record of partnering with management teams to build franchise companies in the wealth management sector. Parthenon will become the majority shareholder on completion.

    At completion, the sale of Titan will represent the second successful exit for Maven’s institutional buyout fund and will deliver an IRR in excess of 100% for investors. Maven will also reinvest a proportion of proceeds into Newco.

     

    “The transformation of the initial Group since Maven first invested in June 2021 is testament to the hard work and ambitions of the management team. In relatively short space of time, Titan has scaled through M&A, but also investment in people and technology to position itself as a disruptor in the UK wealth management market with a unique offering for clients. The investment and partnership with Parthenon will help to support the impressive growth that Titan has delivered to date and we are delighted to continue our support for the business as it scales further.”

    Tom Purkis, Partner at Maven

     

    “The investment and partnership with Parthenon is testament to the strategy and hard work that has delivered the growth of the group to date. We’d like to take this opportunity to thank the team at Maven for the support they have provided and look forward to further strengthening the relationship as we continue to build the business.”

    James Kaberry, Chair and Joint CEO of Titan

     

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    Private Equity