AFH buys Thomas Heald business for up to £5.1m

Consolidator’s largest deal of year

Julian Marr
clock • 2 min read

AFH has completed the 11th - and largest - acquisition of its financial year, buying the client portfolios of HTH and its subsidiary companies Thomas Heald and Thomas Heald Solutions for a maximum price of £5.1m.

The Chesterfield-based business, which was founded in 2009 by Nick Thomas and Nick Heald and has satellite offices in Leeds and Doncaster, has more than 1,100 clients across Yorkshire and the East Midlands. As a result of the transaction, 26 advisers including principals Thomas, Heald and Chris Holland, together with their support staff, will join AFH. Under the terms of the deal, said AFH in a statement, the initial consideration was £2.3m in cash, funded from the group's existing cash resources. Further deferred consideration up to a maximum purchase price of £5.1m will be payable in c...

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