Private equity firm HSQ has today confirmed its unconditional offer to buy the remaining 10% shares of the troubled Financial Planning business Kingswood and said it hopes to conclude the deal by 15 April.

Private equity firm HSQ has injected a further £4.8m to support its troubled Financial Planning business Kingswood which warned recently that it may run out of money to service its £91m debt pile.

Two long-serving directors of troubled Financial Planner Kingswood, including a former CEO, have resigned from the board with immediate effect.

Troubled Financial Planning group Kingswood, which has expanded rapidly in the past five years, may be sold 100% to a private equity firm as it wrestles with a £91m debt mountain.

AIM-listed acquisitive wealth manager and Financial Planner Kingswood Holdings has secured a £4m debt facility with an affiliate of private equity firm HSQ Investments Limited.