Nobel Investments, an AIM-listed coin dealer and auctioneer, has revealed its plans to buy Apex Philatelics, a Surrey-based trader and auctioneer of postage stamps, for up to £1.25 million.

Nobel Investments, an AIM-listed coin dealer and auctioneer, has revealed its plans to buy Apex Philatelics, a Surrey-based trader and auctioneer of postage stamps, for up to £1.25 million.

The cash-and-shares deal is set to boost Nobel’s stamp stock and client base.

Apex conducts three pubic and four postal auctions a year, and has some 5,000 clients of which 1,000 are stamp dealers. For the year ended 31 July, Apex made £249,000 profit on a turnover of £1.9 million.

Ian Goldbard, Nobel MD, said: “The acquisition of Apex is an important step in the expansion of our product range. It also adds to our customer database, which will now exceed 10,000 people. The team at Apex is well respected and will bring significant philatelic expertise to Nobel. We are very much looking forward to working with them.”

In the upcoming months, Apex’ operations will move to Noble’s premises in London.