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Wealth manager secures funding for acquisitions

Wealth manager secures funding for acquisitions

Wealth management group Kingswood Holdings has confirmed it is in the process of securing "substantial" funding to support its pipeline of acquisitions. 

In April the company confirmed it had an acquisition pipeline in excess of £100m, stating in its annual results it was actively searching for funding opportunities to support these deals. 

In a market statement released today (June 25) Kingswood announced it was now in the process of agreeing terms with an investor of "substantial" capital.

The company said it had agreed "non-binding heads of terms" for a potential equity investment, with the investor set to become a shareholder in the business as part of the deal. 

The wealth management group said it was pursuing acquisitions in the UK and internationally, confirming a "number" of deals were in the advanced stages of negotiation. 

In February Kingswood bought Oxfordshire-based Thomas & Co Financial Services for £3.3m, adding £150m of assets under advice to the company. 

The AIM-listed wealth manager currently has more than 4,500 active clients and about £2bn in assets under management and advice.

In March Kingswood appointed a US chief executive, Najib Canaan, as part of its international expansion plans, with the company taking an initial stake in Manhattan Harbor, its first US partnership, two months later. 

rachel.addison@ft.com 

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