Ambrian Capital is buying fellow nominated adviser Nabarro Wells.
Ambrian is paying £996,000, including cancelled share options, for Nabarro Wells, which had a net asset value of £483,000 at the end of March 2007. The main executives of Nabarro Wells have service agreements that include performance-related payments. Its revenues were £4.4m in 2006-07 but since then it has been fined £250,000.
Nabarro Wells has 35 corporate clients, including 18 in Ambrian’s core area of natural resources. That will double the number of Ambrian’s clients to 70.
Ambrian’s 2007 revenues dipped from £17.8m to £15.8m, while profits declined from £8.07m to £5.79m. The investment banking business increased its profits but gains on the investment portfolio, less central overheads, fell significantly.
© 2007 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Enterprise software provider Sanderson Group is continuing to benefit from growth in multi-channel retailing.
Claims management services provider Resources In Insurance Group has slashed its loss in 2011.
e-commerce services provider @UK has gained a four year national e-commerce framework agreement for all UK public bodies.
Recruitment firm Hydrogen Group says that net fee income for the first four months of 2012 was higher than the same period last year.
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds