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AFH buys Chichester advice firm for £1.1m

AFH Alan Hudson 700
AFH chief executive Alan Hudson

Wealth manager AFH has acquired Chichester-based J W Wealthcare in a £1.1m deal.

The firm is the second acquisition in just two months after AFH bought Britton Financial for more than £2m in November. AFH completed 13 deals in the past financial year.

A stock exchange announcement says AFH will also take on the head of J W Wealthcare, John Walpole, as an adviser.

The company says the deal is expected to add £300,000 revenue to the firm.

AFH will make an initial consideration of £1.1m in cash with the remaining amount paid over the following 26 months in four lots and dependent on performance.

AFH chief executive Alan Hudson says: “I am pleased to welcome John to AFH and look forward to working with him to continue our growth within the South East.

“This acquisition, our second since 1 November, highlights the continued high level of activity that we are seeing in the market and continues our strategy of enhancing our organic growth with selective acquisitions.”

 

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