Steadfast Group Limited (ASX:SDF) agreed to acquire H.W. Wood/HWI France from HW International BV. for £23.5 million on November 7, 2024. A cash consideration of £23.5 million will be paid by Steadfast Group Limited. As part of consideration, £23.5 million is paid towards assets of H.W. Wood/HWI France. The acquisition will be funded from Steadfast?s existing corporate debt facilities and free cashflow.

As part of the acquisition, H.W. Wood will continue to be led by Managing Director, Steve Rudduck, who joined the business in 1999. The Steadfast Placements team, which services Steadfast network brokers in Australasia with hard-toplace or complex risks in London, will integrate into the new entity. The transaction is subject to approval by regulatory board / committee and approval of merger agreement by target board. The deal has been unanimously approved by the board. The expected date of settlement is 2 December 2024. Settlement is subject to regulatory and other commercial terms. Completion of the acquisition is expected to occur in early December.