News blog
Media Square
- BY: Andrew Hore |
- POSTED: 22/02/2011 |
Marketing services provider Media Square is selling its point of purchase display materials and display units manufacturer arken to Writtle Holdings for £750,000.
Newmarket-based arken became part of Media Square when it acquired Aim-quoted CA Coutts. Writtle is an investment company which specialises in marketing and support services business and its chairman is Robert Essex, the former boss of CA Coutts.
Writtle’s strategy is to enable management to hold equity stakes in its network businesses. Writtle’s existing point of purchase businesses are Beyond Communications, Creo Retail Marketing and Creo Print & Production.
In the year to February 2010, arken reported revenues of £3.6m and an operating profit of £265,000. The business fell into loss in the six months to August 2010. The purchase price is similar to arken’s estimated net tangible asset value depending on any loss in the second half.
The cash will be used to reduce group debt. Net debt was £20.5m at the end of August 2010. Media Square has also granted Writtle an option to buy the Newmarket factory for £3.25m before the end of 2011.
At 6.375p a share, up 0.75p, Media Square is valued at £2.31m.
Download the February edition of AIM Journal at http://www.hubinvest.com/AIMPDFFebruary2011_17.pdf
© 2023 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|