Further Global Capital Management Buys Majority Stake in Progeny Group Limited
Posted on 10/31/2021
Further Global Capital Management purchased a majority stake in financial advisor and tax firm Progeny (The Progeny Group Limited). The seller is LSG Holdings (formerly known as The Leoni Sceti Group) which will remain a significant shareholder in the company. Progeny’s senior management team will remain in place.
Chris Giles is former chairman of insurance broker consolidator PIB. Giles will join Progeny’s board and investor group.
In April 2021, Progeny acquired Ayrshire-based financial advice firm Affinity, continuing its expansion in Scotland. In 2019, Progeny bought Edinburgh-based Innovate Financial Services.