News blog
Arc Fund Management
- BY: Andrew Hore |
- POSTED: 14/05/2008 |
- COMMENTS: Add yours
Arc Fund Management is buying Manchester-based Throgmorton Financial Services.
Arc is paying £1.6m - half in shares and half in cash. Some of this payment is deferred and dependent on performance. There may be an additional £100,000 payable if the performance targets are achievable.
TFS has £85m of funds under advice. It made a profit of £130,000 on turnover of £1.33m in 2007.
This acquisition takes Arc to £500m under management/advice.
Arc shares were unchanged at 6.75p.
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