Adds that Homebuyer will be acquired with surplus tangible net assets of £380,000. The buy is subject to regulatory approval from the Jersey Financial Services Commission, and a fundraising by Team, expected to complete early next year.
Additionally, Team says that it has amicably cancelled its proposed acquisition of Thornton Associates Ltd. The acquisition, which was originally announced in June, was for a consideration of £2.5 million.
Chair Mark Clubb says: ‘I am delighted to welcome the HBFS team into the group. We know them well and are confident that they will be a strong addition. This will be our fifth acquisition in Jersey since incorporation and we will focus on eliminating duplicate costs and supporting the team as they build their client base. There is no doubt that we are creating a high calibre service for clients in Jersey.’
