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DWF advises WEALTH at work in their acquisition of the Affinity group of companies

DWF LLP advised WEALTH at work in their recent acquisition of the Affinity group of companies (The Farleigh Group Ltd). Their expansion plans follow last year’s investment from Equistone Partners Europe and their acquisition of Newport-based Life Academy, an education and employee engagement programme provider.

WEALTH at work is a leading provider of financial education in the workplace for the private sector and Bristol-based Affinity (The Farleigh Group Ltd) is a UK provider of financial education in the public sector, with over 200 employers including local authorities, fire and police services and the NHS. The acquisition is extremely significant – it not only broadens coverage to now include both the private and public sectors, but also increases assets under management to over £1.5 billion. The move, more importantly, comes at a time when public policy, legislative and regulatory changes are rapidly increasing the demand for financial education in the workplace.

David Cassidy, CEO, WEALTH at work comments, "We are very excited about the acquisition of Affinity (The Farleigh Group Ltd) as we continue to build on our position of being the leading provider of financial education in the workplace. We now cover both the private and public sectors and, most importantly, have not only deepened our penetration of the market but also significantly increased our capacity to meet the fast growing demand for our services. The recent pension changes are giving us a strong tail wind resulting in growing momentum for our business.”

Steve O’Hare of Equistone Partners said, “We are delighted to have supported WEALTH at work to acquire Affinity (The Farleigh Group Ltd) as we continue to build on becoming the leading provider of financial education and advice in both the private and public sector. This acquisition will add to our capacity to meet the growing demand for WEALTH at work services.”

The core DWF team consisted of Jonathan Robinson and Katy Phillips.

Jonathan, who led the deal, said “We have worked with WEALTH at work for a considerable time and are delighted to have worked with them in connection with this significant investment which will facilitate their expansion.”

Jonathan Robinson

Partner - Head of Private Equity

I am a Partner and head of the firm’s Private Equity team.