ConsolidatorJun 5 2018

Harwood spends £11m on deals over six months

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Harwood spends £11m on deals over six months

Harwood Wealth Management spent £10.9m on nine acquisitions in the six months to May 2018.

These acquisitions included the £4.6m AE Financial deal in March which was Harwood's largest acquisition to date.

Of the £10.9m, £6.7m was paid at the time of the purchase, with the balance paid over the next two years subject to performance criteria.

Peter Mann, non-executive chairman of Harwood Wealth Management, said: "I am pleased to report that the team has managed to execute nine deals over the period, several of which were of a large scale and all of which are excellent additions to our business.

"The frequency with which we are managing to complete on acquisitions of stable, high-quality businesses with strong client bases demonstrates the rich pool of opportunities available to Harwood, alongside our excellent reputation for acquisition and integration.

"We look forward to reporting further details in our interim statement next month."

Among the other deals concluded by Harwood in the previous six months were the £1.56m acquisition of Plan65 and the £1.13m Fund Management deal.

Harwood, which is based in Hampshire, now has more than £3bn in assets under influence.