AFH completes Monopoly Financial acquisition
AFH Financial Group
475.00p
16:04 17/06/21
Wealth management firm AFH said it had completed the acquisition of the assets of Monopoly Financial Consultants Limited.
Under the terms of the deal, the maximum purchase price is £0.63m subject to the certain financial targets being met. The acquisition is expected to contribute approximately £0.17m of recurring revenue to AFH.
Financial Services
13,981.57
13:24 26/04/24
FTSE AIM All-Share
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13:25 26/04/24
In a statement, AFH said the initial price was £0.33m in cash, funded from the existing resources. Further deferred cash payments will be made over the next 26 months in two tranches, dependent upon performance criteria of the business acquired.
AFH chief executive Alan Hudson said the Monopoly buy was the third acquisition of the financial year and “further increases our capacity in the south east of England”.