Companies: AMBR   

Investment bank Ambrian Capital is buying entrepreneurial stockbroker Nabarro Wells for £821,000 and cancelling options for £175,000.

Ambitious Ambrian, which specialises in resources and new technology and last year sustained a 28 per cent pre-tax profits fall to £5.8 million, says Nabarro Wells will usefully expand its presence on the junior market. Nabarro Wells was fined £250,000 last year by the London Stock Exchange over scandals at AIM companies Langbar and Max Petroleum, but made £1 million in 2007 ‘before tax, directors’ emoluments and management charges’. It was a founder AIM nominated adviser in 1995 and will add 35 retained corporate clients, 18 in resources, to Ambrian’s list.

That will give the combined group 70 retained corporate clients and make Ambrian ‘the leading AIM nominated adviser to the AIM basic materials sector and one of the top two in the AIM oil and gas sector’, enthuses Tom Gaffney, Ambrian’s chief executive. David Nabarro, who founded Nabarro Wells in 1990, is joining the Ambrian board and Nabarro’s 12-strong corporate finance team will join Ambrian’s corporate finance department under Richard Brown.

‘It is a compelling combination,’ declares Nabarro. Shares in Ambrian, which peaked at 85.25p last May, are 0.25p up today at 39.75p, valuing the company at £44 million.

Growth Company Investor is the UK’s leading authority on small-cap and AIM companies. You can gain immediate access to all the recent share recommendations with no obligation, with a free 30-day trial. Click here to join today

Ambrian Capital	AIM	£16.58m	15.50p	-0.25p
Click here for interactive charting
Other company articles:
Ambrian pays £1m for Nabarro			04/04/2008
Ambrian eyes emerging markets			26/09/2007
Ambrian forges HK alliance			21/03/2007
Ambrian to launch energy fund			02/03/2007
Robert Tyerman’s Exploration Insights			11/12/2006