Harwood Wealth Management Group PLC Acquisitions (2644H)

TIDMHW.

RNS Number : 2644H

Harwood Wealth Management Group PLC

31 July 2019

31 July 2019

Harwood Wealth Management Group Plc

("Harwood Wealth", "Harwood" or the "Group")

Acquisition of Goldwyns Wealth Management Ltd, Andrew Routley Pension Ltd

and Patricia Hodge IFA

Harwood Wealth Management Group (AIM:HW), a leading UK based financial planning and discretionary wealth management business, announces it has exchanged contracts to purchase Goldwyns Wealth Management Limited ("Goldwyns"), based in Southend on Sea, and the trade and assets of Andrew Routley Pension Limited ("Routley"), based in Portsmouth; both are established financial advisory firms.

The purchase price for Goldwyns is c. GBP0.8m and the purchase price for Routley is c. GBP0.6m. In both cases, the purchase price is payable 50% on completion (expected to be in October and December 2019, respectively) followed by two instalments of 25% each which are due to be paid on the first and second anniversaries of completion, contingent upon results.

Harwood is also pleased to announce the completion of the purchase of the trade and assets of Patricia Hodge IFA ("Hodge"). The purchase price for Hodge is c.GBP0.4m with 50% paid on completion and two instalments of 25% each due to be paid on the first and second anniversaries of completion, contingent upon results.

Peter Mann, Chairman of Harwood Wealth Management Group said:

"In line with our strategy, we continue to make quality acquisitions and I am pleased to welcome the staff and clients of Goldwyns, Routley and Hodge to Harwood. We continue to see a healthy pool of acquisition opportunities ahead of us and, as communicated at the Group's interim results, are working on several acquisitions at various stages of progress."

For further information please contact:

 
Harwood Wealth Management Group plc 
 Alan Durrant, Chief Executive Officer   [phone] 
N+1 Singer Advisory LLP 
 Shaun Dobson 
 Ben Farrow 
 Rachel Hayes                            [phone] 
Alma PR                                  [phone] 
 Rebecca Sanders-Hewett                   [e-mail] 
 Susie Hudson 
 

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July 31, 2019 02:00 ET (06:00 GMT)