NEWS

Volvere acquires Impetus Automotive for £1.3million

Friday, Mar 27, 2015

Volvere, an investment company, has bought Impetus Automotive (IAL) for £1.3m.

Impetus provides consulting services for the automotive sector and last reported full-year revenues of £15.6m and profits before tax of £1.5m.

Volvere said it will settle certain debt obligations and acquire the entire share capital of Impetus.

Chief executive Jonhathan Lander said: "We are pleased to acquire IAL, a consulting business with a long history and track record of success.

"The global automotive market faces continual challenges and IAL's deep industry insight puts it at the forefront of being able to offer clients value-enhancing solutions."

Reacting to the acquisition, shares jumped 8.2% to 330p on Thursday at 16:30.

 

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