Oberon Investments to acquire Nexus Investment Management
Oberon said the acquisition complements its existing offering to growing companies through the Oberon EIS fund and the Oberon Capital and Oberon Private Ventures divisions.
In a stock exchange notice today (20 July), the London-based boutique firm said it had exchanged contracts with Nexus IM's parent company, Nexus Central Management Services.
The acquisition, which is subject to FCA approval, will be funded through the issue of 7.5 million new ordinary shares in Oberon, which are listed on the Access segment of the AQSE Growth Market. At a price of 3.9p per share at the last close, the firm aims to raise around £292,500.
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The acquisition will contribute a profit before tax after management expenses and admin expenses. Oberon said the firm was focused on «providing a seamless transfer of investment management services to investors» in the Nexus EIS fund.
The Nexus EIS fund invests in a portfolio of 15 companies across digital, data, education technology and health, which the firm said strengthens Oberon's offering to investors who wish to benefit from Enterprise Investment Scheme tax relief.
Oberon said the acquisition complements its existing offering to growing companies through the Oberon EIS fund and the Oberon Capital and Oberon Private Ventures divisions.
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Oberon CEO Simon McGivern said: «The acquisition of the Nexus EIS Fund further reinforces Oberon's focus on building out our investment offering to clients and bolsters our existing Oberon EIS Fund.
»Investors in the Nexus EIS Fund will benefit from Oberon's access to a wide network of investment opportunities and from the extensive expertise within Oberon
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