Manx Financial acquires Edgewater Associates

The £2m deal is split between £1m in cash and £1m in ordinary shares. Initial payment on completion is £525,000 in cash and £475,000 in 3,392,857 initial consideration shares priced at 14p per share, with the deferred element being paid over the next three years. Manx says the acquisition offers earnings growth to both parties, with Edgewater taking responsibility for Conister Wealth. Edgewater will continue to be managed by executive chairman David Hathersich-Jones and managing director Stephen Locking. "We have been reviewing quality financial services businesses both on and off the...