Coniston is delighted to announce that MWA, an independent financial advisor consolidation platform, has been sold to atomos a UK-based financial planning and wealth management firm.
The transaction which is the second exit from Coniston Fund I will deliver a 34% IRR and 2.1x MM in under three years.
Through a combination of organic growth and acquisitions, MWA now serves 2,500 clients across the UK and oversees £950m of AUA.
Ed Rosengarten, Executive Chairman of MWA, commented “Thank you to Coniston and FDC for their support over this period. We are excited about this next chapter and the opportunities it presents. We look forward to bringing together the strengths and expertise of both businesses as we integrate and build on the strong foundations that are already in place. We are confident that this partnership will support our continued growth and are excited to see what we can achieve together.”
Amit Hindocha, Managing Partner, commented “Congratulations to Ed, Cam and Marine, we wish the team every success as they continue the next stage of their growth journey with atomos. Thank you to Charlie Robinson at FDC for his support and to our friends at Browne Jacobson, Crowe and Thistle for their advice on the transaction.”
MWA secured growth capital investment from Coniston in October 2023 which funded six acquisitions over the partnership. Coniston and MWA were advised by Browne Jacobson (Mike Jackson, Matt Dorman, Abigail Noakes, Morgan Summerfield and Ben Cowan), Crowe (Emma Reynolds) and Thistle (Alex Paschalis and Dorian Cameron).
