AFH Financial Group Plc ACQUISITION OF ASSETS (6594V)
01 Février 2017 - 8:00AM
UK Regulatory
TIDMAFHP TIDMAFHB
RNS Number : 6594V
AFH Financial Group Plc
01 February 2017
1(st) February 2017
AFH FINANCIAL GROUP PLC
("AFH" or the "Company")
ACQUISITION OF THE ASSETS OF TAYLOR FROST WEALTH MANAGEMENT
LIMITED
AFH, a leading financial planning led wealth management firm, is
pleased to announce the acquisition of the assets of Taylor Frost
Wealth Management Limited ("Taylor Frost"), an IFA business based
in South West London. Following the acquisition Keith Taylor will
join AFH as an adviser.
Under the terms of the acquisition, the maximum consideration
payable by AFH is GBP1,245,000. An initial cash consideration of
GBP595,000 has been paid upon completion, satisfied from the
Company's existing cash resources. Further deferred consideration
of up to GBP650,000 will be payable in cash over the next 26 months
in two tranches, dependent upon performance criteria of the assets
acquired.
This is AFH's fourth acquisition of the current financial year
and follows the acquisitions of Aberdeen Wealth Management Limited
and Shield Direct Limited announced earlier this month.
Taylor Frost will add approximately GBP45m to AFH's funds under
management.
Commenting, Alan Hudson, Chief Executive of AFH, said:
"This acquisition will establish AFH in London and I look
forward to working with Keith and our South East based advisers to
develop our presence in the capital. Keith has built a strong
reputation in the medical and dental sectors which I believe will
enable AFH to build a specialised service to this sector on a
national scale."
"The success of our acquisition strategy and our ability to
integrate numerous acquisitions was set out in the statement on our
full year results reported on Monday. We continue with this
disciplined approach and have a strong pipeline of future
acquisition opportunities."
Enquiries:
AFH Financial Group PLC 01527 577 775
Alan Hudson, Chief Executive Officer
Paul Wright, Chief Financial Officer
www.afhfinancialgroup.com
Liberum (Nominated Adviser and Broker) 020 3100 2000
John Fishley / Richard Bootle
Camarco 0203 757 4985
Geoffrey Pelham-Lane / Jennifer Renwick
This information is provided by RNS
The company news service from the London Stock Exchange
END
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