logo-loader

APQ Global makes second acquisition of the year as it swoops for Washington-based financial advisor

Published: 07:53 03 Mar 2020 GMT

APQ Global -

Investment group APQ Global Limited (LON:APQ) has agreed its second deal of the year – the acquisition of Delphos International, the Washington DC-based financial advisor that shares APQ’s emerging markets focus.

It is paying an upfront US$1.5mln along with up to four further earn-out payments between now and June 2022 – three capped at a maximum US$750,000 and the other at a US$500,000 maximum.

Founded in 1987, Delphos has helped raise over US$11bn in debt and equity capital for over 1,000 clients in industries as diverse as telecoms, media, real estate, mining, gas, and ports.

Last financial year it generated revenues of US$3.7mln and underlying earnings (EBITDA) of US$250,000.

“Delphos has a long history and proven track record of delivering results for clients, as well as strong revenue and profits,” said APQ chief executive Bart Turtleboom.

“Furthermore, by adding Delphos to our portfolio of companies, we believe that there is a clearly defined opportunity to achieve strong shareholder return."

In January the company beefed up its corporate services and administration offering in the Channel Islands with the acquisition of Parish Group for US$3.4mln.

FTSE rises ahead of Easter weekend, JD Sport gains on upbeat outlook -...

The FTSE 100 gained on the final morning of this shortened Easter trading week. Festive cheer was limited though, as Thames Water confirmed shareholders would not provide it with a £500 million rescue package, prompting speculation over the London supplier’s future. On a more positive...

1 hour, 13 minutes ago