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Capital and Trust - November 7, 2022 - 0 minute read

Kingswood Holdings has bought Employee Benefit Solutions (EBS) and JCH Investment Management adding a total of £240m to its assets under management.

EBS offers a wide range of financial planning services including retirement planning, savings and investment advice, protection, and inheritance tax planning.

The business will be acquired for total cash consideration of up to £5.08m, payable over a five-year period. £2.75m will be paid at closing and the balance paid on a deferred basis. All staff will be moving over to Kingswood.

The other company, JCH, acquired by, Kingswood, manages clients predominantly across the Lincolnshire area, in total managing over £105m of assets over 240 clients. In the year ending July 31, 2022, JCH generated revenue of £901,000 and profit before tax of £406,000.

JCH is being acquired for £3.5m; £2.1m will be paid initially and the remainder paid over two years if it hits performance targets.

On completion, the existing Kingswood team will co-locate with the JCH team in the JCH premises.

CEO at Kingswood, David Lawrence, said: “I’m delighted by the ever-expanding footprint of Kingswood into new counties, as well as announcing the acquisition of JCH today, the completion of EBS also takes us into a new county.”

Kingswood have already completed on 6 acquisitions so far in 2022 these acquisitions include Allots Financial Services in Rotherham; Joseph R Lamb Financial Advisers in Essex; DJ Cooke Life and Pensions in South Yorkshire; AiM Independent Financial advisers in Eastleigh and Vincent & Co Ltd in Lincolnshire.

If you’d like a confidential, obligation-free discussion about selling or acquiring a Wealth Management / Asset Management business, please click here, alternatively contact us on 0207-043-4300 or email us.

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