Fri, 02 Dec 2022 | BUSINESS SALE
Wealth management consolidator Kingswood Holdings Ltd has continued its acquisitive growth with the acquisition of JFP Holdings in a deal worth up to £12.4 million. JFP Holdings is the holding company of financial advisory firm JFP Financial Services.
Macclesfield-based JFP was founded over 40 years ago and serves clients across Cheshire, Derbyshire and Staffordshire. The firm manages around £360 million of client assets for 1,295 clients, including businesses, employees, medical professionals and individuals.
The acquisition takes Kingswood’s client-facing advisory team to over 115 staff and its funds under management in the UK and Ireland to around £8.5 billion.
Kingswood will pay £7.44 million upon receipt of regulatory approval, with the remaining amount paid on a deferred basis over a two-year period, subject to the achievement of performance targets. If the full amount is paid, it would represent an 8.2x multiple of JFP’s £1.5 million pre-tax profits for the year ending March 31 2022, generated on revenues of £2.5 million.
The consideration will be satisfied using Kingswood’s funding facility, which it announced on October 17 2022. Kingswood has also revealed that it has completed the acquisition of Lincoln-based financial adviser JCH Investment Management, after receiving regulatory approval.
Kingswood Group CEO David Lawrence said: "The acquisition of JFP Holdings will expand our geographical footprint into the Northwest region and an affluent South Manchester area. JFP Holdings are a high-quality business that has operated with its affiliate Josolyne & Co, a leading chartered accountancy practice, for many years.”
"Led by Andy Heywood, JFP Holdings have a long track record of delivering an exceptional level of service and strong client relationships over many years, and I am delighted to welcome them to the Kingswood Group."
JFP Director Andrew Heywood commented: "Throughout the sales process there were a number of important factors that influenced our decision, but the over-riding requirement was for us to have an excellent matching of cultures with any firm looking to acquire us.”
"The cultural fit between our two firms was evident from our first meeting with David Lawrence and has been confirmed throughout our dealings with David and his team."
Find out more about the ongoing surge in wealth management M&A.
Find businesses for sale here.
If you are looking for an exit, we can help!.
This Bristol-based law practice presents a compelling opportunity with a strong track record in criminal, children, and family law matters, showcasing a diverse portfolio of publicly funded and privately paid work.
This is a terrific opportunity to take over an established and high-revenue yielding law practice in central London, with a diverse portfolio emphasising matrimonial and residential conveyancing.
This is an exceptional opportunity to acquire a well-established legal practice with a strong turnover and a diverse range of services including a predominant focus on family law.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.