InvestAcc sells wealth units for £12m, plans share placing
InvestAcc Group (INAC) sold its wealth management and appointed representative businesses to Edengate Wealth for £12m, valued at 9.2x FY25 EBITDA. The deal, pending FCA approval, is expected to close by early 2027. Nick Gardner, Edengate's owner, will sell up to 12.5% of INAC shares to fund the acquisition. The disposal aligns with INAC's focus on pensions administration.