LONDON, UK: Kingswood Holdings (AIM: KWG) has acquired JFP Holdings Limited, the holding agency of JFP Financial Services Limited (JFP), a quantity one monetary advisory agency based in Macclesfield, Cheshire.
Our growth technique is important and we’re strongly dedicated to supporting extra clients. We have a additional 4 acquisitions under unique due diligence that we expect to shut inside the approaching months, plus a variety of additional transactions that are currently under negotiation.”
Established over forty years ago, JFP Holdings services clients predominantly throughout Cheshire, Derbyshire and Staffordshire. The team have constructed lengthy lasting relationships with not solely people however additionally medical professionals, companies and their employees. JFP Holdings manages £360m of client assets throughout 1,295 clients.
In the year ending 31 March 2022, JFP generated income of £2.5m and revenue earlier than tax of £1.5m. JFP Holdings will be acquired for total money consideration of as much as £12.4m, payable over a two-year period, £7.44m of which will be paid upon receipt of regulatory approval and the balance paid on a deferred foundation which is topic to the achievement of pre-agreed efficiency targets.
David Lawrence, Kingswood Group CEO, commented: “The acquisition of JFP Holdings will expand our geographical footprint into the Northwest area and an prosperous South Manchester area. JFP Holdings are a high-quality enterprise that has operated with its affiliate Josolyne & Co, a quantity one chartered accountancy practice, for a lot of years. Led by Andy Heywood, JFP Holdings have a lengthy track record of delivering an distinctive level of service and strong client relationships over many years, and I am delighted to welcome them to the Kingswood Group.
Andrew Heywood, Director of JFP commented: “We are delighted to be becoming a member of Kingswood. Throughout the gross sales course of there have been a variety of important factors that influenced our decision, however the over-riding requirement was for us to have an excellent matching of cultures with any agency looking to purchase us. The cultural match between our two firms was evident from our first assembly with David Lawrence and has been confirmed all through our dealings with David and his team. We are looking ahead to working inside the Kingswood Group which we all know will be a nice home for our staff and clients.”