LONDON: FIH Group plc has agreed to sell its fine art logistics business, Momart, to Compagnie Générale du Roumois SAS for £7.6 million in cash, the company announced Tuesday.
The sale requires shareholder approval at a general meeting scheduled for Aug. 28, 2026. Under AIM Rule 15, the transaction constitutes a fundamental change of business, making approval mandatory.
“We’re confident we have found a new owner with deep industry experience who will be able to support Momart in its next stage of development,” Chief Executive Stuart Munro said in a statement.
Momart, which provides transport, storage and installation services for fine art, reported an underlying pre-tax loss of £1.4 million on net assets of £2.1 million for the year ending March 31, 2026, according to unaudited accounts.
The buyer, Compagnie Générale du Roumois SAS, is a subsidiary of Horus Finance SA, a family-owned investment firm that already operates several businesses in the art logistics and storage sector.
FIH Group said the sale would allow Momart to benefit from being part of a larger industry group while delivering cash proceeds to the AIM-quoted specialist services company. The company plans to use net proceeds for a combination of shareholder returns and retention within its remaining operating division, Falkland Islands Company Limited.
Completion is targeted for Sept. 30, 2026, subject to shareholder approval. If the resolution fails, Momart will continue trading as part of FIH Group.
“I would like to take this opportunity to thank the staff and management team at Momart for their hard work and dedication,” Munro added.
The sale follows a strategic review announced in the company’s half-year accounts for the period ending March 31, 2025, during which the board evaluated options to unlock shareholder value across all divisions.
