Updates

SMC - Very eps enhancing acquisition

November 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

We revisited Stewart McColl, chief executive, again just after SMC announced the acquisition of DTR:UK. DTR:UK is an architectural business and well known to McColl; its 40-something founders were the 20-somethings at his original architecture and design business, McColl Group. DTR:UK is headquartered in Manchester and adds a Liverpool office to the SMC fold. SMC is paying £1.2m upfront (£0.9m cash plus 412,000 shares at 72.8p) plus a deferred earnout based on future profits. The maximum payable is likely to be £4.65m assuming the business grows at 20% compound. Although not apparent from the statement, this is a significant acquisition. It adds 58 fee earners, almost a third of the enlarged business, and fee inc ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

Inspace - 10th largest player in social housing

Erinaceous

SMC (June 2007)

SMC (May 2007)

SMC (February 2007)

SMC (January 2007)

SMC - Soon to be prospective PE of 9.3 (December 2006)

SMC - High gear in Scotland (October 2006)

SMC (September 2006)

SMC (August 2006)

SMC - Largest acquisition to date (June 2006)

SMC Group (May 2006)

SMC Group - Gain since September: 286% (April 2006)

SMC - Results in April shouldn't disappoint (March 2006)

SMC - Buys two small architectral practices (February 2006)

SMC - Acquisitions believed imminent (October 2005)

SMC - Attractive ground floor opportunity (September 2005)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X