AFH has confirmed the acquisition of a second financial advice business in two days, after purchasing the entire issued share capital of Newmarket-based protection specialist Eunisure.
Under the terms of the deal, the maximum consideration payable by AFH is £4.5m, based on "a targeted increase in group profitability attributable to the core Eunisure business and introduced financial planning-led investment management". Vendor and current managing director Ralph Mortlock will remain on the Eunisure board. According to the financial planning-led wealth manager and industry consolidator, the initial consideration has been satisfied by a payment of £1.5m funded from its existing cash resources. It added: "Further deferred consideration of up to £3m will be payable over the...
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