Bromsgrove-based wealth management company AFH Financial Group PLC, which featured in this year’s London Stock Exchange Group’s “1,000 companies to Inspire Britain” report 2020, published earlier this month, is recommending that its shareholders accept a cash offer by Cortina Bidco Limited, a newly incorporated company indirectly controlled by funds managed by USA-based Flexpoint Ford LLC.
AFH’s independent directors said that they consider the terms of acquisition to be fair and reasonable, and a good deal for all shareholders.
The deal values the business at approximately £224.5 million.
AFH Financial Group was founded in 1990. AFH Wealth Management is the most significant part of the group with £6 billion in assets under management and more than 200 independent financial advisers. These advisers provide financial planning-led wealth management advice and services to the mass affluent and high-net-worth private client market in the UK, as well as to a number of companies.
The group is based in the West Midlands with offices across the UK. Group brands include AFH Wealth Management, AFH Private Wealth and Eunisure.