Markerstudy reveals £300,000 bill for Hughes ‘bargain purchase’
Markerstudy only paid £300,000 for Northern Ireland broker Hughes Insurance Services, in a deal labelled ‘bargain purchase’ resulting in a £26.3m gain.
A filing at Companies House for Markerstudy Group Holdings has detailed Hughes had net assets of £26.6m at the time of the takeover.
The document listed that this included a debtors balance of £17.1m “and it is expected that the full contractual amounts can be collected”.
It also featured £6.2m for customer relationships and £1.2m for the brand, as well as £300,000 in tangible assets and £9.1m in cash and equivalents. On the negative side was £7.3m spread across current liabilities, deferred tax
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