International wealth manager group Kingswood confirms potential sale of UK business

Kingswood, the consolidator and wealth management group, has confirmed discussions have taken place linked to a potential sale of its UK operations.

The business, which has both UK and US arms, said it had hired Houlihan Lokey as its financial adviser and that discussions had taken place with regard to its strategic options, "including, but not limited to, a potential sale or third party investment into the company's UK business operations".

A statement to the stock exchange added that while talks had happened, there could be no certainty that any transaction would "ultimately occur, nor to the structure or terms on which any transaction might take place".

The statement added: "The company continues to enjoy the long-term support of its key existing investors and shareholders and continues to deliver accelerated growth and strong delivery against its strategy."

The consolidator's results for the year ended 31 December 2022 are due to be published during Q2 2023.

On 3 March, Kingswood announced it had completed the acquisition of Dublin-based advice firm Moloney Investments.