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Consolidator looks to raise acquisition funds in new share offer

AFH Alan Hudson 700
AFH chief executive Alan Hudson

Consolidator AFH Financial Group is planning to raise £10m in acquisition capital through a new share placing.

The firm says net proceeds of the 175 pence per share placing will be used to “execute the company’s acquisition pipeline and for general corporate purposes”.

In February, AFH made its fourth acquisition of 2017, acquiring Honiton-based IFA Bay Financial Management, adding around £73m to its funds under management.

Since October, the firm announced five acquisitions paying a combined £2m in initial cash considerations.

AFH chief executive Alan Hudson has agreed to sell up to 1 million of his existing ordinary shares at the placing price, which would raise gross proceeds of up to £1.75m.

AFH says in a statement: “The board believes the opportunity exists to acquire appropriately priced businesses and that the net proceeds of the placing will provide the company with a strong platform to finance such acquisition opportunities as well as providing funds for general corporate purposes.”

AFH says in the short term it is evaluating four potential deals, while it says the company continued to assess other potential acquisitions “to further accelerate its growth”.

The consolidator also said it had “strong recurring revenue”, adding to its funds under management.

As at 1 March 2017, AFH says the cash considerations for its target firms had been “fully funded to satisfy the deferred consideration liabilities of announced acquisitions to date as they fall due”.


AFH Alan Hudson 700

Consolidator AFH makes fourth acquisition in two months

Consolidator AFH has made its fourth acquisition of 2017. The firm has returned to Devon for its latest purchase, acquiring Honiton-based IFA Bay Financial Management, adding around £73m to its funds under management. Based on Bay’s performance over the next two years, AFH could pay up to £1.4m for the firm, after funding an initial […]

AFH Alan Hudson 700

Consolidator AFH enters London with third acquisition in a month

Consolidator AFH has acquired the assets of south west London IFA Taylor Frost Wealth Management in a deal worth up to £1.24m. Taylor Frost, which specialises in financial planning for the dentistry profession, will add approximately £45m to AFH’s funds under management. Following the purchase, managing director Keith Taylor will join AFH as an adviser. […]


AFH boosts profits and eyes future deals

Consolidator AFH has posted a 27 per cent increase in pre-tax profits from £1.6m to just over £2m for the year to 31 October. In the the company’s annual results, published today, AFH says it has a “strong pipeline” of potential acquisitions supported by cash reserves of £6.7m, which have increased from £3.7m in 2015. […]

Tapering of annual allowance – adjusted and threshold income

The definitions of adjusted income and threshold income used to determine whether, and to what extent, someone’s annual allowance will be reduced can be confusing.  Here we try to make sense of it all. The annual allowance will be reduced for high income individuals from 6 April 2016.  Our previous article Tapering of annual allowance […]


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