Consolidator Kingswood completes WFI purchase with £3.5m payment

Deal struck in 2019

Jenna Brown
clock • 1 min read

Consolidator Kingswood has completed its acquisition of WFI Financial with a deferred payment of £3.5m for the planning business.

A note to the stock exchange today (24 October) said performance targets required to meet the second deferred payment had been met meaning the deal originally announced in October 2019 was now complete. Kingswood Holdings said a portion of the cash proceeds from the issue of new convertible preference shares on December 31 2020 were used to make the payment. The 2019 deal saw Kingswood acquire Sheffield-based financial planning business WFI Financial for £14m. WFI has offices in Derby, Lincoln and Grimsby. It has AUM/AUA of more than £550m across 970 clients and has 37 partners and em...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

Shackleton adds £900m in AUM with Chetwood Group acquisition

Shackleton adds £900m in AUM with Chetwood Group acquisition

Fourth acquisition of 2025 for private equity-backed advice group

Jenna Brown
clock 03 July 2025 • 1 min read
HSBC Life (UK) sold to Chesnara in £260m deal

HSBC Life (UK) sold to Chesnara in £260m deal

Adds about £4bn of AUM and 454,000 policies

Jenna Brown
clock 03 July 2025 • 1 min read
The Penny Group snaps up Kettering-based IFA

The Penny Group snaps up Kettering-based IFA

Isham Financial Centre is headed up by David Sawiak

Isabel Baxter
clock 03 July 2025 • 1 min read