News blog

AIM 50 Digest 18 February 2022

  • BY: Andrew Hore |
  • POSTED: 18/02/2022 |

Ergomed (ERGO) is acquiring regulatory compliance provider ADAMAS, which adds to the product offering of the contract research services provider to the pharma sector, for £25.6m. ADAMAS has operations in the US, Europe and Asia Pacific. In 2021, ADAMAS generated revenues of £8.5m and £1.8m of EBITDA. That would make the deal immediately earnings enhancing.
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CareTech Holdings (CTH) has acquired Wellness and Dmetco-Bayti in the UAE. Wellness provides physical health and surgical services to 7,000 patients each month and CareTech has acquired a 51% stake for a total of £12m. It generated revenues of £10.8m in 2021. Dmetco-Bayti is a home healthcare provider through the Dmetco and Bayti brands. A 70% stake will cost a total of £11.5m, including a potential earn-out. Annual revenues are £9.4m. These deals will be immediately earnings enhancing.
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Power products supplier Volex (VLX) has negotiated a $200m back facility with an additional $100m accordion. The facility matures in February 2025. This replaces a $100m facility and it will help to finance further acquisitions. Finance director Jon Boaden has bought an initial 1,788 shares at 278.84p a share.
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Alaska-focused oil and gas explorer Pantheon Resources (PANR) has completed drilling on the Theta West #1 well and WH Ireland believes that the results confirm pre-drilling expectations and that the reservoir is better than found at the Talitha #A well where encouraging results were previously reported. 
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Midwich Group (MIDW) is acquiring communications and audio visual products distributor Nimans for £27.5m. The Manchester-based company generated revenues of £114.3m and pre-tax profit of £5.8m in 2020.
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CVS Group (CVSG) says that the Competition and Markets Authority believes the acquisition of Quality Pet Care could substantially lessen competition in five locations in England, including Portsmouth and Bristol. CVS management is reviewing the decision.
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Numis (NUM) says that trading in the first quarter of 2021-22 was in line with the end of the previous financial year. This is thanks to merger activity and private fundraisings. The second quarter had been hit by the weak stockmarket.
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Ceres Power (CWR) expects licence fees of £30m over three year for a system joint venture and a stack manufacturing joint venture, both of which are being set up with Weichai and Bosch in order to access fuel cell opportunities in China. Ceres will hold a 10% stake in the system joint venture and will probably invest up to £20m. There will be other payments when production commences.
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BNP AM Japan has introduced a new client to Impax Asset Management (IPX).
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ASOS (ASC) has published its prospectus for its move to the Main Market on 22 February.
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Former IQE (IQE) boss Dr Drew Nelson has bought 4.13 million shares in the semiconductor wafers supplier at an average price of 36.36p a share. That is a £1.5m investment. New Watkin Jones (WJG) finance director has bought an initial 9,950 shares at 247.6265p. A party related to Warehouse REIT (WHR) non-exec Aimee Pitman bought 61,646 shares at 162.214p a share.

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