City of London Group acquires Acorn to Oaks Financial Services in £1.4m deal
January 15, 2019Kingswood Holdings Ltd Acquires Thomas & Co Financial Services
March 7, 2019Consolidator AFH has announced the acquisition of a West Midlands-based IFA adding £100 million of assets under administration.
Hayburn Rock Group, including its subsidiary firms, has become the latest advice business to be bought by AFH.
Founded in 1996, Hayburn Rock is based in a former school building in Stourbridge and has 10 advisers servicing around £100 million of client assets. The firm made profit before tax of £400,000 for 2017 on sales of £2.1 million.
In a market statement, AFH said the deal will be for £900,000 initially with further deferred considerations dependent on the firms performance paid over the next 29 months. The maximum purchase price will be £3.5 million.