Kingswood Holdings Limited (AIM:KWG) agreed to acquire Allots Financial Services Limited for £2.5 million on February 1, 2022. The consideration will be payable over a two year period, £1.25 million will be paid at closing and the balance paid on a deferred basis, some of which is subject to the achievement of pre-agreed performance targets. As of year ended, March 31, 2021, Allots Financial Services Limited reported revenue of £0.791 million.

The transaction is subject to regulatory approval. The acquisition will be funded from funds recently received by Kingswood from the issue of new convertible preference shares, under the terms of its Convertible Preference Share subscription agreement. Kingswood's partnership with Pollen Street grows in strength, and to date has provided growth equity of £77.4 million to support existing and future acquisitions.

Stuart Andrews, Simon Hicks and Abigail Kelly of finnCap Ltd acted as financial advisor for Kingswood.