News

3
Oct

AFH makes first acquisition of the year

AFH – Bromsgrove based national consolidator, has announced the acquisition of East Anglia-based IFA firm CRS Financial Planning, in a deal which will add £24M to AFH’s billion-pound plus FUM.
The deal has been reported to be worth up to £663, 670, which at 2.6% of FUM is a generous valuation, and with more than 50% paid upfront.  Although with CRS’s principal Chis Stapleton retiring, the business will come with minimal ongoing costs and give AFH’s advisers an additional income stream.  The deal is also being structured as assets only, a simpler deal to complete for all parties.
The acquisition is AFH’s first corporate transaction of the current financial year, consistent with its stated strategy of making carefully selected acquisitions which will be value enhancing.
Gunner & Co. have introduced a number of firms to AFH. “AFH are very straight-forward acquirers.  They are open and honest, and have a great acquisition team to ensure things go smoothly” stated Louise Jeffreys, MD of business brokerage Gunner & Co.
Commenting, Alan Hudson (pictured), Chief Executive of AFH, said:
“The acquisition of the assets of CRS follows the strategy, established by the Company when we listed on AIM in June 2014, of making selective acquisitions to develop our expansion nationally and leverage our central investment and support functions.”
 “The Company continues to seek high quality businesses that will embrace the AFH culture of providing exceptional value to our growing client base while providing attractive returns to our shareholders.”
 To understand more about AFH’s ‘sale & go’ and ‘sale & stay’ propositions, speak to Louise Jeffreys at Gunner & Co. louise.jeffreys@gunnerandco.com