News blog

Volvere

• BY: Andrew Hore |
• POSTED: 15/05/2013 |

Turnaround specialist Volvere is acquiring certain assets of transport planning and engineering consultancy JMP Consultants.

Volvere has the opportunity to acquire the business because it had problems with its pension fund. Stripped of that problem JMP will be in a better position to grow.

Volvere is paying £415,000 for the assets, compared with an estimated fair value of recoverable debtors of £600,000. The business generated revenues of £10m and made an underlying profit of around £60,000.

JMP (www.jmp.co.uk) has nine offices and has public and private sector customers.

Volvere has majority stakes in online marketing, security and food manufacturing businesses. At 277.5p a share, Volvere is valued at £13.1m.

Volvere has obtained shareholder approval to buy back up to 50% of its own shares. Net assets were 371p per share at the end of June 2012 and buy backs could narrow the share price discount to NAV.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMay2013_44.pdf