LONDON, UK: Oberon Investments Group plc (AQSE: OBE), the boutique investment management, wealth planning and corporate broking group, has announced that it has agreed to buy Nexus Investment Management Limited, the manager of the Nexus Investments Evergreen EIS Scale-Up Fund, subject to FCA approval.
The deal will be paid for by issuing 7.5m new ordinary shares in Oberon and is expected to boost Oberon’s profit before tax. Oberon said it aims to provide a smooth transition of investment management services to investors in the Nexus EIS Fund.
The Nexus EIS Fund has a portfolio of 15 companies across Digital, Data, EdTech and Health sectors, which will enhance Oberon’s offering to investors who want to take advantage of Enterprise Investment Scheme tax relief [‘EIS’] and companies seeking EIS funding. The acquisition will also strengthen Oberon’s existing ‘Oberon EIS Fund’ and complement its offer to growing companies through Oberon Capital and Oberon Private Ventures divisions.
Oberon Chief Executive Officer Simon McGivern said: “We are delighted to acquire the Nexus EIS Fund, which aligns with our strategy of expanding our investment offering to clients and increasing our exposure to high-growth sectors. We look forward to working with the Nexus EIS Fund investors and portfolio companies and offering them access to our wide network of investment opportunities and our comprehensive wealth management services.”
Mike Cuthbert appointed Chairman of Oberon Investments Group