28 March 2018 – acquisition
The acquisition of the entire issued share capital of Blue Star Business Solutions Limited has been announced, subject to regulatory approval. The maximum consideration is £4m, including £1.5m in cash at completion. Blue Star Business Solutions was formed in 2004 and is based in Hampshire. It is a niche brokerage which focuses on small and medium sized businesses in the UK which require funding for IT equipment and other assets. With a significant proportion of the consideration for the acquisition linked to ongoing performance there is incentive for value to be created, ultimately benefiting Manx Financial shareholders. We keep our BUY rating.