Kingswood Holdings Limited (AIM:KWG) agreed to acquire Joseph R. Lamb Independent Financial Advisers Limited for £15.3 million on February 7, 2022. Under the terms, £7.65m 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. On completion, 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 with HSQ INVESTMENT LIMITED. For the year ended June 30, 2022 Joseph Lamb generated revenue of £3.8 million and EBITDA of £1.545 million. Transaction is subject to regulatory approval. Stuart Andrews, Simon Hicks and of finnCap Ltd acted as financial advisor to Kingswood Holdings Limited (AIM:KWG)

Kingswood Holdings Limited (AIM:KWG) completed the acquisition of Joseph R. Lamb Independent Financial Advisers Limited for £15.3 million on February 7, 2022.