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Kingswood Holdings swoops on Oxfordshire based advisor

The company is paying £3.3mln in two tranches for Thomas & Co, which has 500 clients and £150mln of assets under advice
acquisition sign
Kingswood has a strong pipeline of further acquisitions

Wealth and investment management specialist Kingswood Holdings Limited (LON:KWG) said it is paying up to £3.3mln for an Oxfordshire-based financial advisory firm.

Based in Abingdon, Thomas & Co has around 500 clients and £150mln of assets under advice.

READ: Kingswood Holdings updates on strategy as CEO departs

Kingswood, which now has 4,500 clients and assets of under advice of £1.5bn, is paying an initial £1.5mln with the remainder subject to a three-year earn-out.

Chief executive Gary Wilder said the company expected to add further scale. “We have a strong pipeline of opportunities we are currently evaluating,” he said.

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