Shore Capital acquires Stockdale Securities for up to £8.9m

Investment group Shore Capital said it had agreed to acquire Stockdale Securities for up to £8.9m.

The deal involved an upfront payment of £4.9m and maximum deferred consideration of up to £4.0m.

Stockdale served an institutional and corporate client base offering corporate advisory and corporate broking, equity research, sales and trading services to institutional investors.

'The combination of our complementary businesses adds scale, expertise and diversity to Shore Capital, demonstrating our commitment to serving the needs of our combined institutional and corporate clients,' chief executive Simon Fine said.