Investment firm Evolve Capital has acquired PLUS-focused corporate finance house Whim Gully Capital (WGC) for £475,000 in cash. 

Investment firm Evolve Capital has acquired PLUS-focused corporate finance house Whim Gully Capital (WGC) for £475,000 in cash.

WGC provides PLUS-market services and has 39 clients. As part of the deal, Evolve will also acquire broking and advisory firm St Helen’s Capital, which is in the process of being bought by WGC. In the year to June 2009, WGC generated a turnover of £307,000.

Evolve is also the parent company of Astaire Group, which provides investment banking services to institutional and corporate clients on AIM and the main market of the London Stock Exchange. Once the WGC acquisition is completed, all the AIM clients acquired with the St Helen’s Capital will be transferred to Astaire Group, while Astaire’s PLUS-quoted clients will be transferred to WGC.

In 2008, Evolve reported pre-tax losses of £115,000.