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5 Dec 2017 07:00
5 December 2017
AFH FINANCIAL GROUP PLC
("AFH" or the "Company")
FURTHER ACQUISITION OF INDEPENDENT FINANCIAL ADVISERY BUSINESS
The Board of AFH, a leading financial planning led wealth management firm, is pleased to announce the completion on 4 December 2017 of the acquisition of the assets of J W Wealthcare Ltd, based in the South East of England (the "Acquisition"). Following the Acquisition, John Walpole will join AFH as an adviser.
Under the terms of the Acquisition, the combined maximum purchase price is £1.1m, payable in cash over the next 26 months in four tranches, dependent upon performance criteria being met. The Acquisition is expected to contribute an aggregate of approximately £300,000 of recurring revenue to the Company.
Commenting, Alan Hudson, Chief Executive of AFH, said:
"I am pleased to welcome John to AFH and look forward to working with him to continue our growth within the South East."
"This acquisition, our second since 1st November, highlights the continued high level of activity that we are seeing in the market and continues our strategy of enhancing our organic growth with selective acquisitions."
Enquiries:
AFH Financial Group PLC 01527 577 775
Alan Hudson, Chief Executive Officer
Paul Wright, Chief Financial Officer
www.afhfinancialgroup.com
Liberum (Nominated Adviser and Broker) 020 3100 2000
John Fishley/Richard Bootle/Euan Brown
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