Consolidator Kingswood doubles advice business with £18m Yorkshire IFA acquisition

Paid £17.75m

Hannah Godfrey
clock • 2 min read

Consolidator Kingswood Holdings has bought North East adviser firm Sterling Trust Financial Consulting for £17.75m, which will be paid over a three-year period.

Sterling Trust is headquartered in Hull and has four satellite offices in Darlington, Newcastle, Sheffield and York. It employs 48 people, including 22 advisers advising on £1.2bn assets under management for around 5,000 clients. Kingswood paid £7.25m upfront for the IFA business and the remaining balance will be paid on a deferred basis subject to Stirling Trust meeting pre-agreed asset migration, recurring revenue and EBITDA hurdles over a three-year period. An additional deferred payment of maximum £1.775 million is payable over the three-year period subject to achievement of an exces...

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