Kingswood confirms potential sale of UK business

Statement follows press speculation

Kingswood, the consolidator and wealth management group, has confirmed discussions have taken place linked to a potential sale of its UK operations.

The business, which has UK and US arms, said it had hired Houlihan Lokey as its financial adviser and that discussions had taken place with regard to its strategic options, "including, but not limited to, a potential sale or third party investment into the company's UK business operations". A statement to the stock exchange added that while talks had occurred, there could be no certainty any transaction would "ultimately occur, nor to the structure or terms on which any transaction might take place". Kingswood acquires Barry Fleming & Partners for £6.2m The statement added: "The c...