Parkmead acquires Aupec

The Parkmead Group, a London-based merchant bank, has agreed to acquire consultancy Aupec through the issue of 235.3 million shares and £1 million in cash. 


The Parkmead Group, a London-based merchant bank, has agreed to acquire consultancy Aupec through the issue of 235.3 million shares and £1 million in cash. 

The Parkmead Group, a London-based merchant bank focusing on investments in the oil and gas sector, has agreed to acquire consultancy Aupec through the issue of 235.3 million shares and £1 million in cash.

Aberdeen-based Aupec specialises in providing consultancy services for the energy sector. Clients include oil companies, government ministries and financial institutions. The company generated turnover of £2.7 million and net profit of £639,000 in 2008. Parkmead’s share issue is worth £2.9 million at current market levels.

Niall Doran, CEO of Parkmead, said: ‘[The deal] further strengthens the high level financial, government, major energy company and technical relationships that we have in the oil and gas industry and comes at a time when demand for energy advisory and consultancy services has increased.’

In the year ending June 2008, Parkmead reduced pre-tax losses by 91 per cent to £400,000.   

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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