AFH makes fourth acquisition in two weeks

AFH makes fourth acquisition in two weeks

Adviser consolidator AFH has completed its fourth acquisition in two weeks with the buyout of a Bedfordshire firm.

The £2.6m deal to buy Ashton House IFA will see its owner and director, Tony James, join AFH as an adviser to continue supporting his client base.

Over the past two weeks AFH has spent £14.5m on four acquisitions, including its largest of the year so far, the £5.1m buyout of Chesterfield-based HTH Group.

Alan Hudson, chief executive of AFH, said: "The acquisition of Ashton House extends AFH's client base and coverage within the home counties and complements other acquisitions made in 2018, including Harrison White and Monopoly Financial Consultants, which were announced earlier this year.

"I am pleased to welcome Tony to AFH and I look forward to working with him to develop the business and provide his existing clients with the benefits of the AFH proposition.

"This is our thirteenth acquisition this year and together with the transactions recently announced reflects the activity we are seeing in the sector."

The initial consideration for the acquisition is £1.05m in cash, funded from AFH's existing cash resources, while the rest will be paid over the next 26 months, depending on performance criteria being met.

Earlier this week AFH bought Devon-based LFS & Partners in a £4.2m deal.