On July 7, 2022, Kingswood Acquisition Corp. announced an agreement to merge with Wentworth Management Services LLC.
Under the terms of the transaction, Kingswood Acquisition Corp (“Kingswood”) will merge with Wentworth Management Services LLC (“Wentwoth”). Upon completion of the merger, both Kingswood and Wentworth will become wholly owned subsidiaries of Binah Capital Group, Inc., which will be a publicly traded company. The deal is expected to close subject to customary regulatory approvals. Further teams were not disclosed.
Kingswood (NYSE: KWAC), based in New York City, is a special-purpose acquisition company which plans to build a wealth and investment management business. Oppenheimer & Co. is serving as financial advisor to Kingswood on the deal.
Wentworth, based in New York City, is a holding company that acquires and manages businesses in the wealth management industry.
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