Acquisition of Regency Investment Services – Egham, Surrey
We are pleased to announce that Kingswood Holdings Limited has completed the acquisition of Regency Investment Services Limited (Regency), a high-quality IFA business which operates from Egham, Surrey. The transaction boosts Kingswood’s client facing advisory team to 67 people and increases assets under advice/management to circa £5.0 billion from over 16,000 active clients.
Regency provides independent financial advice to individuals and corporates primarily in the Greater London area and currently employs 12 people including six IFAs advising on and managing £320 million AUA/AUM on behalf of circa 1,000 clients.
The business has been acquired for cash consideration of £3.45 million, payable over a 3-year period. £1.38m was paid at closing and the balance will be paid on a deferred basis subject to Regency meeting pre-agreed recurring revenue and EBITDA hurdles over a 3-year year period. An additional deferred payment of maximum £1.2 million is potentially payable at the end of the 3-year period subject to achievement of an excess EBITDA target over that period.
The company has a highly qualified and experienced team of financial advisers supported by a dedicated support team. Regency’s continued success is built around developing and maintaining long-term client relationships, making the Regency team a perfect fit for Kingswood.
“We are delighted to welcome Dominique Vinecombe and the Regency team to Kingswood. Dominique will continue to focus on delivering exceptional quality service to Regency’s client base. We recognise over time the major opportunity to migrate existing and new clients to Kingwood’s extensive and growing range of managed investment solutions on our DFM platform, underpinning the value of a fully integrated wealth and investment management business.”
Group CEO at Kingswood