Freeths advises shareholders of Prosperity Wealth on sale to Fairstone Group

National law firm Freeths has advised the shareholders of Prosperity Wealth Limited on its sale to leading wealth management group Fairstone, marking Fairstone’s largest acquisition to date.

The deal sees Prosperity Wealth become a full part of the Fairstone Group following the completion of its partnership period under Fairstone’s Downstream Buy Out (DBO) programme.

Founded in 2010, Prosperity Wealth is a West Midlands-based firm offering wealth management, cashflow planning, corporate financial planning and employee benefits advice. The business has an 80-strong team, including 49 advisers, supporting more than 5,000 clients and managing £1.5b in assets.

Leading the Freeths team on this transaction was Corporate Director Ateeq Ahmed. He was supported by Corporate Associates Shailen Hinglajiya and Katherine Ferrari-Bradley, Trainee Solicitor Liv Atherton, Tax Partner Stephen Jones, Banking & Finance Associate Charlotte Beddows, Planning & Environment Partner Ben Derrington and Real Estate Director Kishen Ravalia.

Commenting on the deal, Ateeq Ahmed said: “One of the great joys of my job is supporting businesses on their growth journey and watching them flourish on the path to securing a successful exit. Having advised the business in 2023 on its initial partnership with Fairstone under its renowned DBO programme, we have worked closely with the management team over the last few years, including assisting with more than 30 client bank acquisitions during that time, so it is deeply satisfying to deliver this transaction for such a wonderful team."

“The firm has built a strong reputation in the region, and joining the Fairstone Group will provide it with the scale, infrastructure and platform to accelerate its next phase of growth. Exciting times ahead and I wish them all the very best for the future.”

Matt Bell, CEO of Prosperity Wealth said: “Working with Ateeq and the wider Freeths team has been an exceptional experience from start to finish. Their commercial understanding, commitment, and ability to navigate complex issues with clarity and confidence have been instrumental in securing a successful outcome for our business. This transaction marks an important milestone in Prosperity Wealth’s journey, and we are incredibly grateful for the expertise and support Freeths have provided throughout.”

Freeths’ Birmingham Corporate team is part of a national practice of over 70 corporate lawyers, advising on mergers and acquisitions, disposals, private equity, fundraising, equity capital markets, joint ventures, reorganisations and wider corporate governance matters, recognised for its market leading expertise and ability to deliver complex transactions on time and on budget.