The perfect fit: the sale of GMIFC to Pembroke Financial Services

The shareholders of GMIFC Limited, a long-standing client of Knill James, approached us a while ago about the sale of their business. As a firm of Independent Financial Advisers, GMIFC is dedicated to providing a high quality service tailored to the needs of each client, so appointing Knill James as lead advisers was the obvious choice as our values are aligned with theirs. In addition, we were fully committed to the owners' key specification - to ensure their clients would be well looked after following their exit. Accordingly, finding the best cultural fit was the primary focus in our search for a buyer, while of course also ensuring it was the right deal overall for the shareholders. 

A truly local deal

The company attracted many interested parties and found the perfect purchaser in Pembroke Financial Services, a successful, growing IFA firm in Shoreham, not far from our client. This made the transaction in every respect a truly local deal: both buyer and seller are Sussex based, so too are both firms' advisers and the investors, whose offices are near Horsham. 

A great fit

Keith Relf, Managing Partner of Pembroke, said: “Our business is growing, so we were delighted when GMIFC approached us, as they are a highly-regarded independent firm and we have known the owners for many years. Their ethos and approach are the same as our own, with a focus on professionalism and bespoke personal service, so the two teams are a great fit.” 

'Second to none'

Chris Gray of GMIFC added: “The team at Pembroke is second to none and we have every confidence our clients will be in safe hands with Keith and his colleagues. We are really grateful to everyone at Knill James for their help and perseverance in getting the deal over the line. It sometimes felt like an epic struggle but it was definitely worth it! We would strongly recommend the Corporate Finance team to anyone considering a similar transaction.” 

David Martin, Corporate Finance Partner at Knill James, commented: “Finding a suitable purchaser whose goals were aligned with our client's proved to be quite a challenge, as the financial services sector has a number of large consolidators. The team worked hard over a long period and were very happy to find Pembroke the perfect fit. We wish Chris and Alastair all the best in their future endeavours.”