Wealth manager agrees deal to buy London firm
Acquisitive wealth manager AFH has agreed a £1.2m deal to buy London firm Taylor Frost.
It is the third purchase in 2017, and the fourth in its financial year, for the Bromsgrove-based group, which yesterday reiterated its ambitions to continue to grow by bolting on other firms.
It also unveiled its financial performance for the year to October 2016, which saw revenues rise 15% to £24.1m.
The latest deal sees AFH pay £595,000 up front, with a further £650,000 payable in two tranches based on performance. Keith Taylor will join AFH as an adviser.
Alan Hudson, chief executive of AFH, said: “This acquisition will establish AFH in London and I look forward to working with Keith and our South East based advisers to develop our presence in the capital.
“Keith has built a strong reputation in the medical and dental sectors which I believe will enable AFH to build a specialised service to this sector on a national scale.”