Private equity investment firm Flexpoint Ford, which specialises in the financial services and healthcare industries, has completed its acquisition of UK financial planner AFH Financial Group for £231.6m ($327.5m, €272.6m).
Flexpoint Ford will acquire the UK wealth firm via Cortina Bidco, a newly incorporated company indirectly controlled by the US-based private equity firm.
Daniel Edelman, managing director of Flexpoint Ford, said: “We could not be more excited to announce the completion of our acquisition of AFH, our very first platform investment in the UK.
“We look forward to working with AFH’s management team, who share our values, and remain confident in the continued success of AFH and its next phase of growth in the private domain.”
Flexpoint Ford saw its first offer of £225m reportedly turned down by AFH shareholders, including Slater Investments.
This forced Flexpoint to increase its bid to £231.6m and the Financial Conduct Authority (FCA) approved the acquisition in May 2021.
Read more/Source: INTERNATIONAL ADVISER
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