Braveheart bulks up with acquisition of Neon Capital
AIM listed Braveheart Investment Group has acquired the entire issued share capital of Neon Capital Partners from NF Holdings.
AIM listed Braveheart Investment Group has acquired the entire issued share capital of Neon Capital Partners from NF Holdings.
Braveheart is paying £0.38m in cash for Neon Capital.
The acquisition is in line with the company's strategy of growing fee income by increasing funds under management.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The sale is subject to a post-completion net working capital adjustment which will also be satisfied in cash following the preparation of completion accounts and which is expected to be about £0.3m.
Merchant Securities, which acts as a broker for Braveheart, currently has its recommendation for Braveheart under review.
As might be expected, it gave the acquisition the thumbs-up, saying it "improves revenue visibility for the company at an attractive price."
The market seemed to be of the same mind, however, with the shares edging up to 11.75p from 11.25p the night before.
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published