REG - Kingswood Holdings - Acquisition of Vincent & Co Ltd

Kingswood HoldingsAnnouncement

12/05/2022 07:00

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RNS Number : 1894L  Kingswood Holdings Limited  12 May 2022

RNS

KINGSWOOD HOLDINGS LIMITED

 

Acquisition of Vincent & Co Ltd

 

Kingswood Holdings Limited ("Kingswood") announces the acquisition of Vincent
& Co Ltd ('Vincent & Co')

 

 

Kingswood Holdings Limited (AIM: KWG), the international, fully integrated
wealth and investment management group, is pleased to announce it
has exchanged on the acquisition of Vincent & Co Ltd, a privately owned
independent financial adviser firm based near Market Rasen in Lincolnshire.
The acquisition is subject to regulatory approval.

 

David Lawrence, UK CEO at Kingswood, commented: "I'm delighted to announce
the acquisition of Vincent & Co, our fifth acquisition this year. Vincent
& Co have been established for over 20 years and have built deep
relationships with their clients and an ethos which matches ours at Kingswood.
This is a great opportunity to make an acquisition that consolidates our
presence in Lincolnshire.

 

"During 2022 we will continue to focus on our acquisition activity. We have a
strong pipeline of activity, with four potential acquisitions in exclusive due
diligence. Our near-term target is to build our UK AUA/M in excess of £10bn
in the U.K. and £14bn globally."

 

About Vincent & Co Limited

Vincent & Co, ran by Mark Vincent, provides financial advice to over 130
clients in the Lincolnshire area. They hold £25m AuA and in the year ending
31 October 2021 generated revenue of £135k, and profit before tax of £83k.

 

Following regulatory approval, the business will be acquired for total cash
consideration of up to £421k, payable over a two-year period, £211k will be
paid upon completion of the transaction and the balance paid on a deferred
basis.

 

Consideration

The acquisition will be funded from cash received by Kingswood from the issue
of new convertible preference shares, under the terms of its Convertible
Preference Share subscription agreement with HSQ INVESTMENT LIMITED, a wholly
owned indirect subsidiary of funds managed and/or advised by Pollen Street
Capital Limited ("Pollen Street"). Kingswood's partnership with Pollen
Street has provided growth equity of £77.4 million to support existing and
future acquisitions.

 

For further details, please contact:

    Kingswood Holdings Limited                            +44 (0)20 7293 0730
    David Lawrence                                        www.kingswood-group.com (http://www.kingswood-group.com/)
    finnCap Ltd (Nomad & Broker)                          +44 (0)20 7220 0500
    Stuart Andrews / Simon Hicks / Abigail Kelly
    GreenTarget (for Kingswood media)                     +44 (0)20 7324 5498

    Jamie Brownlee / Alice Gasson / Ellie Basle           Jamie.Brownlee@greentarget.co.uk (mailto:Jamie.Brownlee@greentarget.co.uk)

About Kingswood

Kingswood Holdings Limited (trading as Kingswood) is an AIM-listed (AIM: KWG)
international fully integrated wealth management group with circa £9.0bn
billion of Assets under Advice and Management. It services circa 19,000
clients from a growing network of offices in the UK including Abingdon,
Beverley, Conisbrough, Darlington, Derby, Eastleigh, Grimsby, Harrogate,
Hull, Lincoln, London, Maidstone, Newcastle, Sheffield (2), Worcester and
York with overseas offices in Johannesburg, South Africa and Atlanta, New
York and San Diego in US.

Kingswood offers a range of trusted investment solutions to its clients, which
range from private individuals to some of the UK's largest universities and
institutions, including investment advice and management, personal and company
pensions and wealth planning. Kingswood is focused on becoming a leading
player in the wealth and investment management market through targeted
acquisitions in the UK and US, creating a global business through strategic
partnerships.

Registered office address: Mont Crevelt House, Bulwer Avenue, St. Sampson,
Guernsey, GY2 4LH

 

 

 

 

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