Panmure Gordon agree £62 million sale for Think Equity

20 February 2007

British investment bank Panmure Gordon is to buy Think Equity, an American investment bank, for $62 million.

Panmure is hoping that the acquisition of Think Equity, which operates mostly in the sphere of media and telecommunications, will attract new investment from America and the UK via the company's listing on London's alternative investments market (AIM).

Commenting on the sale in an interview with the Financial Times, Panmure chief executive, Tim Linacre, said: "This is a significant acquisition for Panmure Gordon and is a logical step building on the strong performance of the last two years."

"The combined business will be well placed to address increasingly international capital market," he added.

The sale comes at a time when speculation is high that UK companies will fuel a glut of acquisitions, as they seek to limit the damage of commission-limiting regulations.

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