AFH has completed the acquisition of the assets of Hertfordshire-based Monopoly Financial Consultants, in a deal that will see director Nigel Parbrook join the consolidator's business as an adviser.
Under the terms of the acquisition, the maximum purchase price will be £631,000, subject to the fulfilment of certain financial targets. AFH said it expected the deal - the third in its current financial year - to contribute some £170,000 of recurring revenue to its business.
In a statement, the company added: "The initial consideration for the acquisition is £333,000 in cash, funded from the company's existing cash resources. Further deferred consideration will be payable in cash over the next 26 months in two tranches, dependant upon performance criteria of the business acquired."
AFH chief executive Alan Hudson (pictured) said the deal reflected the company's "strong pipeline of acquisition targets". He added: "This further increases our capacity in the South East of England and I look forward to working with Nigel for the benefit of our new clients and to increase shareholder value."
Last month, AFH bought the assets of Chichester-based J W Wealthcare for up to £1.1m while, the month before, it completed the acquisition of Colchester-based IFA Britton Financial for up to £2,081,000. November also saw the four executive directors of AFH granted a total of 210,000 share options under the company's growth share scheme, with a further 220,000 options going to other members of management.
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