31st Jul 2019 14:06
(Alliance News) - Harwood Wealth Management Group PLC on Wednesday said it has exchanged contracts to purchase Goldwyns Wealth Management Ltd and the trade and assets of Andrew Routley Pension Ltd.
The wealth management company said both Goldwyns and Adnrew Routley are financial advisory firms.
The purchase price for Goldwyns is GBP800,000 and the purchase price for Andrew Routley GBP600,000. In both cases, the purchase price is payable 50% on completion, which is expected to be in October and December, respectively, followed by two instalments of 25% each, which is due to be paid on the first and second anniversaries of completion, contingent upon results.
Harwood also said it has completed the purchase of the trade and assets of Patricia Hodge IFA. The purchase price for Hodge is GBP400,000 with 50% paid on completion and two instalments of 25% each also due to be paid on the first and second anniversaries of completion, contingent upon results.
"In line with our strategy, we continue to make quality acquisitions and I am pleased to welcome the staff and clients of Goldwyns, Routley and Hodge to Harwood," said Harwood Chair Peter Mann.
"We continue to see a healthy pool of acquisition opportunities ahead of us and, as communicated at the group's interim results, are working on several acquisitions at various stages of progress," Mann added.
Harwood shares were untraded in London on Wednesday, last closing at 115.00 pence each.
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