Would-be acquirer unable to make the company fit its model Independent financial advice business Socium Group has pulled out of negotiations to acquire financial services firm Beaufort Group. But International Adviser now understands that the deal is off. Simon Goldthorpe, joint executive chairman, said in a statement to shareholders: “I have to report that Socium has decided to withdraw its offer, citing an inability to get our business to fit into ‘their model’. We do not intend to make any statement to the press other than ‘we were unable to agree on final terms’. “Whilst disappointing, it is a setback purely in timing terms. We will continue to pursue our growth strategy and will use the considerable due-diligence work undertaken with Socium to good effect elsewhere. We are very confident of finding the right funding partner.