StockMarketWire.com - Wealth management group AFH Financial said Monday it had acquired West Midlands based Hayburn and its subsidiary companies based in Stourbridge for a total of up to £3.5m.

The acquisition would bring over £100m of funds under management to AFH Financial.

The company agreed to pay an initial sum of £0.9m, with a maximum of £3.5m dependent on performance of Hayburn over the next 29 months.

For the twelve month period ended 31 December 2017, Hayburn reported revenues of £2.1m and profit before tax of £0.4m.

'Hayburn is a local business to AFH which should enable an efficient integration process,' the company said.


At 9:47am: [LON:AFHP] AFH Financial Group Plc share price was 0p at 344p



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