Kingswood acquires £1.4bn AUA North Yorkshire firm

£16m deal

Elliot Gulliver-Needham
clock • 2 min read

Wealth manager Kingswood has acquired North Yorkshire based Metnor Holdings and its subsidiaries IBOSS Asset Management and Novus Financial Services, subject to regulatory approval.

The deal brings Kingswood's UK assets under management to £3bn, with total assets under administration reaching over £7.9bn. Kingswood's client-facing advisory team has now grown to 80 people, with the number of active clients reaching over 15,900. Kingswood hits £6.2bn AUA as it completes Admiral Wealth deal In the last year, Metnor's subsidiaries have brought in a revenue of £3.3m. They currently employ 29 people and have over 6,000 clients with over £1.4bn of assets under administration or management. The deal will see an initial cash consideration of £9.6m, paid on closing, ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week