Kingswood Acquires WFI Financial

INVESTMENT MANAGEMENT DEALS BLOG

September 25, 2019

On September 4, 2019, Kingswood Wealth Management Ltd. announced an agreement to acquire WFI Financial LLP.

Under the terms of the transaction, Kingswood Wealth Management Ltd. (“Kingswood”) will be paying a maximum cash consideration of £14 million to acquire WFI Financial LLP (“WFI”). The first payment of £3.5 million will be paid at closing, expected to take place at the end of September 2019, and the remaining consideration will be payable on a deferred basis over a 30-month period, subject to WFI meeting agreed upon requirements with regards to asset migration, recurring revenue and EBITDA. The final payment will be due in February 2022. WFI’s principals, Charlie Gillespie and Mark Rendall, will be joining Kingswood post-transaction.

Kingswood is a UK-based wealth management firm that provides a wide variety of financial services including investments, savings, mortgages and protection. It has £2.5 billion in assets under management.

WFI is a UK-based wealth management firm that specializes in financial planning. It has approximately £550 million in assets under management.

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