The High Court has approved the purchase of Harwood Wealth by US-based private equity firm Hurst Point Topco Limited, a newly formed company funded by US giant Carlyle.
Harwood issued a market update confirming that its shares will cease to be traded, with shareholders to receive 145p per share, valuing the company at just shy of £91M – a doubling of it’s market cap at the point of listing in 2016.
The acquisition follows a successful couple of years of external growth for Harwood, which is an AIM-listed firm, with over 12 acquisitions and a sharp increase in revenue.
This success is thought to prompt the interest of Carlyle in purchasing the firm.
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