Lawyers at national law firm Clarke Willmott LLP have advised on the sale of chartered financial advice firm Carbon Financial Partners to multi-disciplinary professional services firm Progeny.

Clarke Willmott acted on behalf Carbon Financial Partners, which has 45 staff across offices in Edinburgh, Glasgow, Aberdeen and Perth.

The deal, which has just been approved by the Financial Conduct Authority (FCA), will add £600 million to the assets under management at Leeds-based Progeny.

Clarke Willmott corporate partner Ed Foulkes, led on the deal assisted by fellow partners Louise Rogers and Rob Ridd, senior associate Matthew Dootson and trainee solicitor Chloe Santiago.

Ed Foulkes said: “Carbon Financial Partners serves clients with complex financial needs, business leaders and those approaching important life transitions, and we are immensely proud to have supported the business through this transaction.

“The acquisition will further boost Progeny’s footprint in Scotland, driving growth and increasing the range of services offered to clients.”

Carbon Financial Partners managing director, Gordon Wilson, said: “Progeny shares our investment philosophy and our values.

“It was critical for the team that we found the right fit for our clients and we have achieved that. Combining with Progeny will help us to take our service and advice offering to new levels.”

Carbon Financial Partners was also advised by John Chapman of Orion Consulting Group, Bruce Walker and Chris Hylands of HNH on corporate finance and John Fowlie of Robertson Craig, on tax. Squire Patton Boggs provided legal advice to Progeny.

Clarke Willmott also advised RU Group and Balmoral Asset Management on their acquisitions by Progeny earlier this year. The firm’s corporate team has acted on over 100 transactions in the financial advisory space over the last five years.

Clarke Willmott is a national law firm with offices in Birmingham, Bristol, Cardiff, London, Manchester, Southampton, and Taunton.