Openwork Holdings Limited | Stephens

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Sole Financial Advisor

Openwork Holdings Limited

Value Not Disclosed 10/28/2024 Financial Institutions Complete
Private Companies
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Transaction Details

  • On October 28, 2024, The Openwork Partnership (“Openwork”) announced a minority structured equity investment from leading global private equity investor, Bain Capital. Openwork is majority owned by its membership as a partnership, who voted overwhelmingly in favour of the investment by Bain Capital at the EGM to approve the transaction held on October 24, 2024. The transaction is expected to close in H1 2025 once regulatory approvals from the FCA have been received.
  • The investment is transformative for Openwork. It will enable further growth and IT investment in the business whilst delivering exceptional value and excellent outcomes for clients over the long term.
  • This is Bain Capital’s first direct investment in the UK Financial Advice space; Bain Capital brings extensive experience from investments in similar companies in the US and elsewhere, as well as a deep knowledge of the UK Financial Services sector. Stephens introduced Bain Capital as an investor, and advised both the Partnership and the main operating company, Openwork Limited on the capital raise.


About the company

The Openwork Partnership
The Openwork Partnership is one of the UK’s largest financial services networks with the group having over 4,750 financial advisers operating across the UK. It operates as a directly authorised, multi-panel distribution network. The Company operates panels for pensions, annuities, and protection (life assurance, critical illness, General Insurance). Omnis Investments, the investment arm of the group, offers a range of investment funds, managed by some of the best fund managers in the market, as well as a managed portfolio service. In the mortgage sector Openwork operates a panel of over 50 lenders for mortgages and is among the top three networks for almost all the major mortgage providers. The Openwork Group is majority-owned by the Openwork Partnership LLP with its employees holding a minority stake.

Bain Capital
Bain Capital is one of the world's leading private multi-asset alternative investment firms that creates lasting impact for our investors, teams, businesses, and the communities in which we live. Since its founding in 1984, it has applied its insight and experience to organically expand into numerous asset classes including private equity, credit, public equity, venture capital, real estate and other strategic areas of focus. The firm has offices on four continents, more than 1,750 employees and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com.

Sources: Company information, press release
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