Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / AFH Financial Group acquires two firms for £7.2 million

AFH Financial Group acquires two firms for £7.2 million

Fri, 13 Sep 2019 | BUSINESS SALE



AFH Financial Group, a listed wealth management firm headquartered in Bromsgrove, has successfully completed the acquisition of AE Garment Independent Financial Services based in Hemel Hempstead, and Twickenham-based Mulberry Independent Financial Advisers.

AFH is set to acquire the two companies for a maximum consideration of £7.2 million.

An initial consideration of £2.3 million was paid for Mulberry from AFH’s cash reserves, with a maximum purchase price pegged at £5.3 million depending on performance.

Similarly, an upfront payment of £1 million was paid for AE Garment Independent Financial Services, with £1.9 million listed as its top price.

Chief executive of AFH Financial Group, Alan Hudson, said: “The announcement of these latest acquisitions follows our recently completed £15 million placing in July 2019.

“Notably, the acquisitions have been completed on attractive, value-enhancing multiples, in line with our business model and those negotiated in previous transactions.

“We continue to undertake due diligence on the pipeline of acquisition opportunities that were referenced in the placing announcement and look forward to updating the market in due course.

“The company continues to enjoy strong organic inflows of funds from existing and new clients with low redemptions.

“During the current year, double-digit gross inflows continue to be achieved whilst outflows, including pension drawdowns, remain below 2 per cent.”

The two deals are expected to bring in £215 million worth of funds to AFH’s management, raising its total to more than £5.6 billion.

Hudson added: “As we continue to build AFH into the leading financial planning led wealth management firm in the UK, we are primarily focused on driving the organic growth of our business by providing professional and cost-effective services to our clients and, in turn, enhancing profitability.

“Following the placing the company retains significant levels of cash and remains well placed in this period of economic and political uncertainty to continue its record of delivering profitable growth and enhanced shareholder value.”


Share this article



Latest Businesses for Sale

Software Developer Specialising In Revision And Training Aids
UK Wide

Due to significantly exceed its pre-pandemic levels of business. The company specialises in the development of a range of revision and training aids for a wide variety of platforms.

Asking Price: Offers Invited
Turnover: £550,000

LEASEHOLD


Insurance Claims Consultancy & Chartered Loss Adjusting Services
UK Wide

Achieved turnover of £1.6 million. Renowned for providing expert services for high-profile, high value incidents for clients, including significant international catastrophes.

Asking Price: Offers Invited
Turnover: £1,600,000

RELOCATABLE


Provider Of Credit Management And Debt Collection Services
UK Wide

Renowned as a trusted and efficient provider of professional debt collection services, along with a range of complementary legal and financial solutions. The company holds a licence with the FCA and is a member of the CSA, and achieves high success r...

Asking Price: Offers Invited
Turnover: £1,526,426

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
24
 
Feb
 

Nestlé acquires recipe kit firm SimplyCook | BUSINESS SALE

Nestlé has strengthened its position in the e-commerc...

 
23
 
Feb
 

Lockdown exit: What does the road map look like for UK businesses? | BUSINESS NEWS

After a winter spent almost entirely in lockdown, the govern...

 
22
 
Feb
 

Modular Group acquires Euramax Solutions with BFS backing | BUSINESS SALE

Modular Group Investments has acquired Barnsley-based window...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
18
 
Jan
 

AFH Financial Group ready to return to acquisition trail in 2021 | BUSINESS NEWS

In its yearly report to October 2020, wealth manager and adv...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.