News
Noble announces acquisition of Clear Capital
21/05/2008
Noble, the UK investment banking group today announced the acquisition of Clear Capital, a leading research firm focused on the small and mid-cap equity market. The transaction is conditional on the approval of the Financial Services Authority. The consideration is not being disclosed.
To date, Noble’s strengths have been built on M&A and Equity Capital Markets. This year the strategy was expanded to include a focus on secondary commission income and research. Its aim is to develop as a research led investment bank, offering high quality research, broking, investment banking and fund management services to customers in the UK and overseas.
As a result of the acquisition, Noble will significantly increase its research team. It will have nearly 30 analysts covering around 170 UK stocks across ten sectors. It is anticipated that the number of stocks and sectors under coverage will increase.
Clear Capital currently employs eighteen staff in Mumbai through its Indian subsidiary. This will become an integral part of Noble’s growth strategy and it is intended that research coverage of Indian mid-capitalisation stocks will commence around the fourth quarter of this year.
Noble is also committed to developing Clear Capital alternative research products, through the primary data and expert networks business of Clear Capital.
Nick Paulson-Ellis, the Founder and Managing Director of Clear Capital, will become Head of Equities at Noble. In this role he will be responsible for all of Noble’s stock broking, research and sales trading activities both in the UK and overseas.
The transaction represents the latest stage in Noble’s evolution and follows a series of significant changes designed to position the group for the next phase of its growth. These include the strategic investment from ARCH Group and management and employee buy out in April, the assembly of a new management team, and the membership of the Global M&A network.
Angus Macpherson, chief executive of Noble Group, said: “For some time we have admired the quality, depth and conviction of the research produced by Clear Capital. We are delighted to welcome Nick and his team to Noble.”
“We believe they will have a transformational impact on our strategy. The combined equities business has the potential to grow rapidly under Nick’s leadership both within the UK and internationally. Having a base to develop from in India offers exciting opportunities.”
Nick Paulson-Ellis, Managing Director of Clear Capital, said: “We are delighted with the transaction which will dramatically accelerate our development. Noble has committed to put fundamental research at the heart of its overall strategy, and make the investments needed to offer a market leading research product”.
“Beyond our core UK small and mid-cap focus, both firms have recognized that the UK and India are developing one of the most important bilateral relationships in the global economy, and we will be launching an Indian equities business later this year”.
For more information contact:
Ben Thompson, Group Head of Marketing, Noble Group
+44 20 7763 2200
Sarah Gestetner, Citigate Dewe Rogerson
+44 20 7282 2920
About Noble
Noble is an independent UK investment bank dedicated to helping small and mid-cap companies grow. It provides services to more than 200 private and public companies, and acts as adviser, sponsor and broker to more than 40 companies.
Noble is the exclusive UK member of Global M&A www.globalma.com the leading global partnership of independent corporate finance houses which services the growing market for international mid market M&A activity.
It has four operating companies providing a range of services including investment management of specialist asset classes, corporate finance and broking services and corporate administration. All four companies are authorised and regulated by the Financial Services Authority.
About Clear Capital
Clear Capital is a leading institutional equity research firm, currently focusing on UK small to mid capitalisation companies (£100m-£1.5bn), and soon to launch an Indian mid cap business.
It was launched in January 2004 and now has nearly 30 analysts covering over 150 companies, with a sector focus on Climate Change, Healthcare, Leisure, Media, Retail, Specialist Financials, General Insurance, Support Services and Technology.
Six of its sector teams are Thomson Extel rated, including several top three.
Clear Capital has over 50 institutional investor clients. It is authorised and regulated by the Financial Services Authority.