AFH buys Devon-based Lyn Financial Services for up to £4.2m

Under the terms of the acquisition, all 60 members of staff at Lyn Financial Services will join AFH, giving the group more than 200 advisers across the UK. AFH will also take over Lyn's offices in Barnstaple, Taunton and Minehead. AFH revealed the initial consideration for the purchase was £2.2m in cash, funded from the company's existing cash resources. Further deferred consideration up to a maximum purchase price of £4.2m will be payable in cash over the next 26 months, subject to enhanced performance criteria of the business being achieved. "For the 12-month period ended 31 August ...