Proactive Investors - Run By Investors For Investors

Kingswood Holdings to acquire Marchant McKechnie for £4mln

East Yorkshire-based Marchant McKechnie provides pensions, investments, and tax planning services
Kingswood has changed its name from European Wealth

Kingswood Holdings PLC (LON:KWG) has made its first acquisition since its rebranding by agreeing to buy Marchant McKechnie Independent Financial Advisers Ltd for £4mln.

The deal is expected to be immediately earnings enhancing.

East-Yorkshire Marchant McKechnie provides pensions, investments, and tax planning services. The business generated underlying earnings (EBITDA) of £855,000 last year.

Following the acquisition, Kingswood will have assets under administration of £2bn, 20 financial advisors and more than 4,000 active clients.

"Marchant McKechnie is a strong addition to the group as we look to build a new national brand in the UK wealth market. Marchant McKechnie shares our commitment to delivering high levels of customer service to clients over the long-term,” Ismail said.

"The UK wealth market is excessively fragmented, and we believe that there is a substantial market opportunity to build a national brand for quality, independent wealth planning advice and investment management.”

Kingswood changed its name from European Wealth in September.


View full KWG profile View Profile

Kingswood Holdings Limited Timeline

Related Articles

April 02 2019
Directors have 'a reasonable degree of certainty' that positive basic earnings per share will be achieved in 2018
April 16 2019
The specialty finance company offers revenue-based financing, allowing SaaS (Software as a service) and knowledge-based start-ups to 'pay as they grow'
June 14 2019
Founded in 2016, the company has invested in a number of projects that it believes will power the development of the decentralised blockchain infrastructure

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use