Kingswood Holdings Limited (AIM:KWG) exchanged contracts to acquire Allotts Financial Services Limited for £2.5 million on February 1, 2022. 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. On completion, the acquisition will be funded from funds recently received by Kingswood from the issue of new convertible preference shares. In the year ended March 31, 2021, Allotts Financial Services generated revenue of £0.791 million. The transaction is subject to regulatory approval. Stuart Andrews, Simon Hicks, Abigail Kelly of finnCap Ltd acted as a financial advisor to Kingswood Holdings.