Consolidator AFH makes further £460k acquisition

IFA consolidation business AFH has bought Clarendon Financial Solutions for £461,000.

The deal, which completed on 1 April, is the firm's ninth since it listed on the AIM exchange in June 2014. Clarendon, a Nottingham-based IFA business, runs about £25m in client assets. Clarendon's three shareholders have joined AFH as financial advisers, the firm said in a note to the stock exchange. It added the maximum consideration payable by AFH is £461,000. The initial consideration will be satisfied by a cash payment upon completion of £230,550 from the Company's existing cash resources. A further deferred consideration of up to £230,550 will be payable in cash over the next...