Kingswood, the international wealth and investment management group, is set to acquire the Dublin-based financial adviser Moloney Investments (MMPI), subject to regulatory approval, making this its seventh acquisition this year.
The transaction will bolster the group's client-facing advisory team to over 100 people and funds under advice and management to over £7.8bn across both the UK and Ireland. Kingswood's assets under advice will total over £10bn, from a combination of both global retail and institutional clients.
Following receipt of regulatory approval, Kingswood will acquire 70% of MMPI for a total cash consideration of €25.8m, with the existing shareholders retaining the remaining 30%.
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David Lawrence, Kingswood Group CEO, said: "MMPI provides access to the attractive Irish wealth management market whilst also offering multiple new avenues for growth. Bryan Moloney and his senior team have done an exceptional job building MMPI into a successful, scaled, and differentiated financial advisory group with a reputation for exceptional client service."
In addition to MMPI, the firm has a strong pipeline of activity with a further eight potential acquisitions in exclusive due diligence.
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Bryan Moloney, CEO at MMPI, added: "This is an exciting development for the business providing additional expertise, capability, and funding to continue MMPI's long term track record of both organic and inorganic growth, whilst supporting our vision of serving private and corporate clients with a best in class platform and service."
"Kingswood shares our vision and beliefs of empowering its employees to provide excellent client service and I am confident that their investment provides a great outcome for both our employees and clients alike.''
