UK wealth management and online investment service firm BestInvest announced it had agreed to be acquired by a portfolio company of Permira funds. The said acquisition was for an undisclosed amount and would be subject to regulatory approval. The said sale is expected to be completed by the first quarter of 2014.

BestInvest was established in 1986 and had grown to become of one of the fastest growting and dynamic UK private client investment group. The firm has dedicated much of its resources to unbiased and rigorous investment research as well as a focus on excellent client servicing thrust at the highest levels of professionalism.

According to BestInvest CEO Peter Hall, "The success of our business has been firmly built on our impartiality and expertise in research and offering the highest standards of professionalism and client service at great value for money. In looking for a partner to support the future growth of the business, the Permira funds stood out from the crowd in their understanding and appreciation of our distinctive ethos and their commitment to invest in the management team's growth strategy."