Kingswood’s private equity backer HSQ Investments has placed an offer to acquire the business and intends to merge it with another wealth firm.
In an update posted by the private equity firm today (18 March), Pollen Street Capital subsidiary HSQ put an unconditional cash offer to acquire the entire issued and to be issued ordinary share capital of Kingswood not already held by HSQ at a price of 7 pence per ordinary share. HSQ noted that notwithstanding Kingswood's growth in revenues and assets under advice/management (AUA&M), the company's performance has been impacted by the headwinds seen across the sector over the last couple of years. "This has resulted in the company's growth not being as strong over the period as manage...
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