Consolidator AFH Financial makes seventh acquisition in eight months

Consolidator AFH Financial has acquired Kidderminster-based advice firm K.L. Plester Financial Services for £1.7m.

The acquisition of Plester, which was completed on 9 February, is the seventh acquisition since AFH listed on AIM in June 2014 and the fourth during the current financial year. The Plester acquisition will add approximately £600,000 per year of recurring revenue to AFH, the consolidator said. Jon Rowe and Keith Plester's clients will be taken over by AFH's existing advisers following their retirement on completion. Peter Machin, a director and shareholder of Plester, will join AFH with immediate effect as a financial adviser. Under the terms of the acquisition, the maximum cons...