A Bristol financial services firm has acquired an Aberdeen-based company after securing "significant" investment in its first funding round.
Clifton Asset Management completed the acquisition of Scotland's Burnett & Reid (B&R) on Monday (July 18) in a move it said would be "the first of a number of firms" it aims to takeover as it accelerates its acquisition strategy.
B&R is an independent financial advisory firm that was established in 1991. With assets under management (AUM) of £180m, the purchase of B&R will take Clifton’s total AUM to £860m, with group revenues of around £8m.
