Pollen Street Capital, the private equity owner of wealth manager and Financial Planner Kingswood, has greenlighted a new £8m unsecured debt facility for the business.

Kingswood has grown strongly in recent years and has made over 15 acquisitions since the start of 2021.

In February it acquired Dublin retirement planning advice firm BasePlan through its Irish subsidiary Moloney Investment.

Rumours that Kingswood would be sold have circulated over the past couple of years but in October last year the firm said it had ruled out a sale of the business after a strategic review.

In a Stock Exchange statement today Kingswood said the £8m loan facility would be used to support the company's “capital requirements and growth agenda.”

The loan facility will be up to £8m with an expiry date of 17 October 2030 and an interest rate of 12% rolled up and paid at maturity.

Kingswood will enter into a facility agreement with HSQ Investment, a wholly owned indirect subsidiary of funds managed and/or advised by Pollen Street.

David Lawrence, Kingswood Group CEO, said: "Since their first investment in Kingswood in 2019, Pollen Street have been a great partner to the company and this additional investment demonstrates a further positive commitment towards our ambition to build a leading business in the sector."