Sedulo targets enlargement with Santander UK funding | North West Offers Information

Accountancy {and professional} providers group Sedulo is about to develop within the wealth administration sector after securing new funding from Santander UK.

Santander UK has supplied Sedulo with a £2.85m funding bundle, together with a three-year revolving credit score facility, to assist the enterprise’ development plans.

The funding will assist the agency’s proposals to construct out its wealth administration operation within the UK over the subsequent few years by buying small wealth administration companies and taking over board established impartial wealth managers.

It’s centered on strengthening its wealth administration market share within the North of England and London.

Initially based in Manchester in 2009 as an accountancy agency, Sedulo aspires to be a one-stop-shop within the provision {of professional} providers to SME shoppers. It now employs a workers of 160, has places of work in Manchester, Liverpool, Leeds and London, and has a portfolio of some 2,000 shoppers ranging in measurement from SMEs to giant corporates.

The enterprise achieved an annual income of £10.5m within the yr to October 2021, up from £8.5m in 2020, and is focusing on income of £14.3m this yr.

Paul Cheetham, managing associate at Sedulo Group, mentioned: “As a serviced-based organisation with double-digit natural development, we’ve moved our banking to Santander UK due to its partnership method to working with us and talent to satisfy our working capital wants.

“Our development plans embody acquisitions within the monetary planning sector and Santander UK has supplied a pre-approved rolling credit score facility to help with the funding of our acquisition technique.”

Sam Galt, relationship director at Santander UK, added: “Sedulo is a challenger and disruptor amongst mid-market skilled providers companies and it has an thrilling future stuffed with development and enlargement. We’re happy to offer it with this funding bundle to assist it obtain its strategic acquisitions technique within the wealth administration sector.”