Year in Review 2025-26

May 2025

Coniston Appoints Investment Partner

Coniston announced the appointment of Miral Patel as Investment Partner.

Miral brings over fifteen years of M&A and PE experience to the role, with a strong track record of identifying, executing, and managing high-growth investment opportunities.

She joins from Literacy Capital, where she spent seven years as an Investment Director focused on the UK small-cap market. During her tenure, she led numerous investments across a range of sectors, working closely with management teams to drive strategic growth, operational improvements, and long-term value creation.

Sep 2025

Masterfix Secures Growth Funding From FDC

Masterfix, the multi-trade property maintenance company, secured a £3.3m funding package from Frontier Development Capital. This investment provides Masterfix with further long-term funding to support their growth strategy and marks a significant milestone in Masterfix’s journey as the business continues to expand its service offering to the residential property market.

Sep 2025

Coniston Announces the First Close of its Second Fund

Coniston announced the first close of its second fund, Coniston Capital II LP, over its first close target of £30m and expects to complete fund raising in 2026.

The new fund will continue Coniston’s focus on the underserved UK small-cap market, targeting high-quality SMEs with strong growth potential. The strategy will centre on supporting MBOs and executing buy-and-build initiatives, partnering closely with management teams to scale businesses and create long-term value. With a strong pipeline of opportunities, Coniston expects to make its first investment from the fund in 2026.

Oct 2025

Coniston Appoints CFO/COO

Coniston announced the appointment of Maria Durkan as Chief Financial Officer and Chief Operating Officer.

Maria brings over fifteen years of experience to the role, with strong expertise in finance and private equity. She joins from Beringea, where she spent four years as Finance Director, overseeing financial reporting, fund operations, and supporting strategic decision-making.

Prior to this, she spent seven years at Mobeus within its fund accounting team, building a solid foundation in fund accounting, valuations, and regulatory compliance.

Dec 2025

MWA Acquires Stonewood Financial Planning

MWA acquired Market Harborough-based Stonewood Financial Planning, an integrated wealth management and holistic financial planning business based in Leicestershire.

This was the fifth acquisition that MWA has made since Coniston invested and adds £53m of Assets Under Advice, an established office in Market Harborough and a loyal client base of over 100 family units, further strengthening the Group’s national footprint and accelerating its growth across the Midlands.

Jan 2026

Coniston Announces Promotion

Coniston announced the promotion of Beatriz Geraldes to Investment Executive.

Beatriz initially joined Coniston as an intern in August 2023 and progressed to Acquisition Analyst in November 2023. Since then, she has played an active role in supporting portfolio companies including MWA, Equity IT and FMC, and works closely with management teams on sourcing and executing acquisitions. Her progression has continued with her promotion to Investment Executive in January 2026.

Mar 2026

Coniston Exchanged Contracts On The Sale Of MWA

Apr 2026

FMC Acquires SmartDental

FMC, the leading media and software platform in UK dentistry, acquired SmartDental as part of its expansion into the HR space. Building on this acquisition, FMC launched Dentistry HR, a platform specifically designed to meet the needs of UK dental practices and groups.

Dentistry HR brings together key people management functions in one integrated system, helping practices streamline rota planning, improve visibility across teams, strengthen communication, and simplify day-to-day HR operations. The platform is designed to support growing practices by providing greater structure and efficiency as they scale.

This acquisition represents an important step in FMC’s broader strategy to expand into adjacent verticals and enhance its offering to the dental sector through complementary technology and services.

Apr 2026

MWA Acquires Hawthorn Financial Services

MWA, an Independent Financial Advisor consolidation platform, has acquired Wiltshire-based Hawthorn Financial Services, a financial advisory firm that provides personalised financial planning and wealth management services.

The acquisition brings more than 70 family units into the group, along with £26 million in AUA and Hawthorn’s founder, Derek Avenell, has joined MWA as an adviser. Following the acquisition, MWA Financial Advice now serves nearly 2,500 clients across the UK and oversees approximately £950m of AUA.

The acquisition marks another step in MWA’s strategy to grow its national presence through the integration of high-quality advisory firms.