KINGSWOOD BUYS CHESHIRE-BASED IFA

Kingswood has added acquired Cheshire-based advice firm, JFP Financial Services.

JFP was established 40 years ago and manages £360m across 1,295 clients in Cheshire, Derbyshire and Staffordshire. It has a particular focus on medical professionals and their businesses.

The company will be acquired for a total of £12.4m, paid over a two-year period, £7.44m of which will be paid on receipt of regulatory approval and the rest subject to certain performance targets.

David Lawrence, CEO of Kingswood Group said,: “The acquisition of JFP Holdings will expand our geographical footprint into the North West region and an affluent South Manchester area. JFP Holdings is a high-quality business that has operated with its affiliate Josolyne & Co, a leading Chartered accountancy practice, for many years. Our growth strategy is important and we are strongly committed to supporting more clients. We have a further four acquisitions under exclusive due diligence that we expect to close in the coming months, plus a number of additional transactions that are currently under negotiation.”

The company also announced that its acquisition of JCH Investment Management has completed after receiving regulatory approval.

Earlier this month, Kingswood entered the Scottish market with the purchase of Glasgow-based Strategic Asset Managers for £5.1m.

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