Next Fifteen (NFC) has announced the acquisitions of Velocity Partners and Circle Research for a combined net initial consideration of £9m (£7.9m in cash). Both acquisitions are in line with the NFC M&A strategy; single digit acquisition multiple; entrepreneurial continuing management, digital focus with North American ambitions. We have argued before that NFC’s M&A track record is one of the best in the peer group, with an emphasis on value, innovation and quality over scale. We have upgraded our estimates in response. NFC continues to trade on a well-deserved 6% PE premium to the Small Cap Agency peer group.
08 Aug 2017
M&A strategy – Accretive, Value Focus, Lower Risk
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M&A strategy – Accretive, Value Focus, Lower Risk
Next 15 Group plc (NFG:LON) | 883 -229.6 (-2.9%) | Mkt Cap: 877.3m
- Published:
08 Aug 2017 -
Author:
Iain Daly -
Pages:
7
Next Fifteen (NFC) has announced the acquisitions of Velocity Partners and Circle Research for a combined net initial consideration of £9m (£7.9m in cash). Both acquisitions are in line with the NFC M&A strategy; single digit acquisition multiple; entrepreneurial continuing management, digital focus with North American ambitions. We have argued before that NFC’s M&A track record is one of the best in the peer group, with an emphasis on value, innovation and quality over scale. We have upgraded our estimates in response. NFC continues to trade on a well-deserved 6% PE premium to the Small Cap Agency peer group.