Financial services provider Argent UK has been acquired by its management team for an undisclosed sum.

The company comprises two businesses; Argent Personal Finance Managers and Argent Employee Benefits.

Simon Blake, a partner at Haslers Corporate Finance, advised the management team as they bought out external shareholders during an 18-month period. The firm provided corporate finance advice on taxation and accounting, obtained HMRC clearance and introduced legal firm Wollastons to the deal.

Blake said: “The original objective – to secure total control of all shares by the management team without taking on any bank debt – was completed at the close of 2006 and will allow the management to streamline the two businesses into a single trading company.”