Kingswood reveals extensive pipeline of potential UK acquisitions

Wealth and investment management group Kingswood has revealed that it has an “extensive pipeline” of potential acquisitions in the UK, with nine deals at an exclusive due diligence stage. The announcement, made as the firm revealed its interim results, comes following its acquisition of Admiral Wealth Management earlier this year.

The company said it had “an extensive pipeline of potential UK M&A opportunities under evaluation with nine transactions currently under exclusive due diligence including opportunities in key preferred markets across the UK”.

The group has seen a 646 per cent increase in revenue to £61.5 million in the first half of 2021, on the back of an acquisition drive in the USA. In addition to its pipeline of potential UK deals, the firm has also revealed it is in exclusive discussions to acquire three non-UK businesses and that it is seeking to target further inorganic growth in the UK and USA.

Kingswood UK reported revenue of £10.6 million in the first half of the year, with operating profits of £2.8 million, compared to £1 million in the first half of 2020. The company’s wealth management business saw its revenue nearly double from £4.7 million to £8.3 million.

Meanwhile, the group’s US operation, which began last year, recorded £51 million in turnover, with operating profit of £2.5 million.

Kingswood group CEO Gary Wilder said: "We are now benefiting from our acquisition strategy and successful entry and consolidation of our position in the attractive high growth US market.”

“Kingswood remains focussed on building its long-term value strategy, centred around vertical complementary growth business lines in the international independent retail wealth and investment management sectors.”

“With the acquisition of Admiral Wealth Management in the UK in August and a strong pipeline of UK and international acquisition opportunities, the second half of 2021 promises to be another busy and exciting period for the group.”

“With the financial and strategic support of Pollen Street Capital and KPI, Kingswood will continue to capitalise on the consolidation, acquisition and integration opportunities across international wealth and investment management markets."

Kingswood UK CEO David Lawrence said: “Acquisition, integration, and growth are stated imperatives for us. We have built some great momentum in developing a pipeline of acquisitions which we hope to convert during the remainder of 2021 and into 2022.

“The acquisition selection process is rigorous; targets must be singularly dedicated to servicing their clients with the Kingswood model designed to free up adviser time to focus more on clients. Similarly, we have become well-practised at integrating acquired businesses, with specialist teams leading this activity, that will then create a platform for future growth."

“I am confident that a combination of investment and proactive management of our business will serve us well as we go forward. My ambition is to make Kingswood a magnet business for all, not least for firms wanting to take their next step in joining a progressive and capable wealth management business.”


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