Pinsent Masons advises on Shackleton exit

25 Jun 2025 | 02:23 pm | 1 min. read

Multinational law firm Pinsent Masons has advised the shareholders of independent financial advisory and wealth management firm Shackleton, including the private equity buy-and-build specialist Sovereign Capital Partners, on the exit to Lee Equity Partners.

The Pinsent Masons team advised on Sovereign Capital’s original investment in 2021 and has since helped Sovereign Capital and Shackleton deliver an ambitious buy-and-build programme, including advising on 18 strategic bolt-on acquisitions.

The partnership helped Shackleton to consolidate the highly fragmented independent financial advisor and wealth management sector and position the firm as the Britain’s financial advisor of choice. Working with Sovereign Capital, Shackleton has grown from a leading regional player in the Southeast to a truly national business. The company now employs over 400 staff, including 100 advisors, and has over £7 billion in assets under management.

The Pinsent Masons team advising on the transaction was led by Tom Leman, Partner and Head of Retail & Consumer, supported by senior associate Rob Cunningham and associates Isabelle Benedict and Lexi Greenwell.

Our lawyers worked alongside a team from M&A advisory firm Lazard to deliver the exit for Sovereign Capital and Shackleton. Lee Equity Partners was represented by global investment bank Evercore, with Proskauer providing legal advice.

Commenting on the exit, Tom Leman said, “This transaction highlights our ability to work alongside leading investment banks and global law firms to deliver our clients’ most important deals. It highlights our capabilities within the private equity and financial services sector, both from a transactional and a regulatory perspective.

“Our team has recently helped to deliver several significant deals within the professional services space. Private wealth is a particularly active section of the market, with institutional investors increasingly recognising the role they can play in helping wealth managers to deliver on their growth ambitions.

“We’re delighted to have had the opportunity to support the Shackleton team throughout the whole cycle of Sovereign Capital’s investment. Shackleton is now well placed to continue its growth trajectory with Lee Equity Partners.”

James Dargan, partner at Sovereign Capital Partners said: “It has been a pleasure to work with Pinsent Masons on the original Skerritts platform deal, 18 bolt-on acquisitions, 3 refinances, and the exit, over the last four years. The partnership style has resulted in efficient processes, and most importantly an enjoyable experience for all. Thanks to Tom, Rob and the team, for all of their help.”

Key Contacts

Tom Leman

Tom Leman

Partner, Head of Retail & Consumer

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