News

23
Aug

Consolidator scores 10th acquisition in a year

Consolidator giant AFH has continued its spree of deals with the acquisition of West Sussex-based IFA firm, Harvey Curtis.
AFH’s deal, the tenth in its current financial year, will see it buy Harvey Curtis’ client portfolios (in an asset purchase). These clients will continue to be served by advisers Nigel Poole and David Clark, together with their support staff, who will also join AFH.
The deal is set to net Harvey Curtis a £1.22m cash payment up front. Over the next 26 months, subject to performance criteria, the total consideration will be up to £2.63m.
AFH chief executive Alan Hudson says the firm “will continue to look to expand in the South East”.
So far this year, AFH has proved to be the most acquisitive firm in the market, the firm made 14 buys in the year to October 2017, a marked increase after making just two in 2015/16. Gunner & Co. work regularly with AFH on potential business acquisitions – if you’d like to know more about selling your business to AFH, contact louise.jeffreys@gunnerandco.com