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Kingswood Holdings Ltd - London-based wealth and investment management - Completes the acquisition of Employee Benefit Solutions Ltd and agrees to buy JCH Investment Management Ltd. EBS is a Buckinghamshire-based financial planning firm, with three lead advisers and seven people in total. JCH is based in Lincoln, offering financial advice, also with three advisers and seven employees in total. EBS recorded £806,000 in pretax profit in the financial year that ended in March on revenue of £1.6 million. JCH had £406,000 in pretax profit in the year that ended July 31 on revenue of £901,000. Kingswood will pay up to £5.1 million in cash over five years for EBS and up to £3.5 million in cash over two years for JCH.
"Kingswood continues to be an acquisitive business and has a further five purchase transactions under exclusive due diligence that we expect to close in the coming months," says Chief Executive Officer David Lawrence.
Current stock price: 19.80 pence, down 2.9% on Thursday in London
12-month change: down 31%
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