Kingswood Holdings Limited, the international wealth and investment management group, is to acquire Vincent & Co Ltd, a privately owned independent financial adviser firm based near Market Rasen in Lincolnshire.
Vincent & Co, ran by Mark Vincent, provides financial advice to over 130 clients in the Lincolnshire area. They hold £25m AuA and in the year ending 31 October 2021 generated revenue of £135k, and profit before tax of £83k.
Following regulatory approval, the business will be acquired for total cash consideration of up to £421k, payable over a two-year period. £211k will be paid upon completion of the transaction and the balance paid on a deferred basis.
David Lawrence, UK CEO at Kingswood, said: “I’m delighted to announce the acquisition of Vincent & Co, our fifth acquisition this year. Vincent & Co have been established for over 20 years and have built deep relationships with their clients and an ethos which matches ours at Kingswood. This is a great opportunity to make an acquisition that consolidates our presence in Lincolnshire.”