18th Aug 2021 14:28
Kingswood Holdings Ltd - London-based integrated wealth management and adviser - Completes buy of Lincolnshire-based financial plan firm Admiral Wealth Management Ltd for GBP4.0 million. Cash consideration is payable over two years, with GBP2.0 million now and the remaining balance on a deferred basis. Admiral can request the deferred consideration is paid in cash or shares of Kingswood.
"Whilst this is our first acquisition of 2021, as reflected in our 2020 year end presentation in June we continue to make good progress on further acquisitions, eight of which are now in exclusive negotiation as we continue to grow our financial planning and investment management reach across the UK and internationally," says Chief Executive David Lawrence.
Current stock price: 31.40 pence
Year-to-date change: up 15%
By Josie O'Brien; [email protected]
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