UK financial group AFH has completed the acquisition of the client portfolios of Meritor, the financial advisory business of Freeths LLP, a national legal practice.
Under the terms of the acquisition, the maximum purchase price is £0.53 million dependent upon performance criteria of the assets acquired. The transaction is expected to add approximately £330,000 of annual recurring revenue, funded from the company\'s existing cash resources.
Further deferred consideration will be payable in cash over the next 14 months, subject to performance criteria of the assets acquired being achieved.
Alan Hudson,...
