Kingswood has acquired Vincent & Co, a Lincolnshire-based adviser firm, adding £25m in assets under management and 130 clients.
The deal represents a significant step in Kingswood’s goal to increase its presence across the UK. Additionally, the acquisition contributes to Kingswood’s ambition of accruing £10bn assets under management within the UK, and £14bn globally. Currently, Kingswood oversees £9bn of assets under management globally.
The acquisition of Vincent & Co will be paid for with some of the £80m funding that Kingswood received from Pollen Street Capital in 2019.
David Lawrence, UK chief executive at Kingswood, said: “I’m delighted to announce the acquisition of Vincent & Co, our fifth acquisition this year.
“Vincent & Co have been established for over 20 years and have built deep relationships with their clients and an ethos which matches ours at Kingswood.
“This is a great opportunity to make an acquisition that consolidates our presence in Lincolnshire.
Mr Lawrence also spoke about the firm’s acquisition strategy: “We aren’t looking for people who want to check out, we’re looking for people who want to re-focus on a particular part of the business and grow it.”
The deal is worth £421k. £211k will be paid upon completion of the deal, with the remainder to be paid over the next two years.
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