AFH acquires Monopoly Financial

AFH Financial Group has acquired the assets of Monopoly Financial Consultants based in Rickmansworth, Hertfordshire, for a maximum purchase price of £631,000.

Following the acquisition Nigel Parbrook will join AFH as an adviser.

The group said the purchase price was subject to the fulfilment of certain financial targets and the acquisition was expected to contribute approximately £170,000 of recurring revenue to the company. The initial consideration for the acquisition is £333,000 in cash, funded from the company's existing cash resources.

Further deferred consideration will be payable in cash over the next 26 months in two tranches, dependent upon performance criteria of the business acquired.

Chief executive Alan Hudson said: 'This is our third purchase of an IFA business for the current financial year, reflecting our strong pipeline of acquisition targets.

'This latest acquisition further increases our capacity in the South East of England and I look forward to working with Nigel for the benefit of our new clients and to increase shareholder value.'