AFH spends up to £1.7m on second acquisition of 2019

AE Garment's director Tony Garment will retire after the deal is completed and his client base will move across to existing AFH advisers. It is its second acquisition of 2019 and 13th in the last 12 months for the prolific consolidator, which will pay £880,000 up-front for the 200-client firm. A further two payments, worth a collective £880,000, will be due depending on AE Garment meeting performance targets over the next 26 months. The announcement of the deal comes days after AFH revealed it is seeking to raise up to £20m through a conditional placing of convertible unsecured loan s...