Kingswood Holdings Limited Acquires The Business And Assets Of WFI Financial

Kingswood Holdings Limited (AIM: KWG), has acquired the business and assets of WFI Financial for a maximum cash consideration of £14.0 million. As per the exchanged contract, the total amount is payable over a 30-month period of which £3.5million will be payable at closing of the acquisition, which is expected to take place at the end of September 2019 and rest on a deferred basis subject to WFI meeting pre-agreed asset migration, EBITDA and recurring revenue targets during the period.

On 4th September 2019, at the time of writing, GMT 08:03 AM, KWG shares were trading at GBX 8.00, flat against the previous day closing price.