Wealth management group Kingswood has acquired Glasgow-based financial advice firm Strategic Asset Managers (SAM).
The business will be acquired for total cash consideration of up to £5.1m, payable over a two-year period, with £3.1m paid on completion and the balance paid on a deferred basis, subject to the achievement of pre-agreed performance targets.
Kingswood will satisfy the consideration through the utilisation of a new funding facility, confirmed last month.
