AFH acquires Hertfordshire IFA for up to £631,000

Third deal of its financial year

AFH has completed the acquisition of the assets of Hertfordshire-based Monopoly Financial Consultants, in a deal that will see director Nigel Parbrook join the consolidator's business as an adviser.

Under the terms of the acquisition, the maximum purchase price will be £631,000, subject to the fulfilment of certain financial targets. AFH said it expected the deal - the third in its current financial year - to contribute some £170,000 of recurring revenue to its business. In a statement, the company added: "The initial consideration for the acquisition is £333,000 in cash, funded from the company's existing cash resources. Further deferred consideration will be payable in cash over the next 26 months in two tranches, dependant upon performance criteria of the business acquired." '...