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Ambrian Capital
- BY: Andrew Hore |
- POSTED: 06/04/2008 |
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.
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