Your Partner for Growth, Hybridan

Hybridan

Your Partner for Growth

Our passion is raising growth capital for exciting, fast growth companies that want to take their business to the next level. We raise capital for companies both listed and unlisted in the most efficient manner possible and pride ourselves as being one of the few consistently profitable broking firms in the City. This has been achieved through a highly disciplined approach when seeking to create both corporate and institutional relationships.

Equity Bottom-Up

<ul>
<li>Bango 83.50p £60.43m (BGO.L) The mobile internet payment platform Company announces a trading update for the 12 months ended 31 December 2025, ahead of announcing FY25 Final Results in Q2.</li>
<li>The Company recorded positive cash EBITDA of approximately $2.3m, a $2.5m improvement from the negative Cash EBITDA of FY24.</li>
<li>The Company also expects the growth of Cash EBITDA to accelerate in FY26.</li>
</ul>


Bango 83.50p £60.43m (BGO.L) The mobile internet payment platform Company announces a trading update for the 12 months ended 31 December 2025, ahead of announcing FY25 Final Results in Q2.
The Company recorded positive cash EBITDA of approximately $2.3m, a $2.5m improvement from the negative Cash EBITDA of FY24.
The Company also expects the growth of Cash EBITDA to accelerate in FY26.


Hybridan Small Cap Feast: 20 January 2026

<ul>
<li>AIREA 23.00p £9.51m (AIEA.L) The UK design-led specialist flooring Company supplying both the UK and international markets announced a trading update for the six months ended 30 June 2025.</li>
<li>The Company reported the encouraging start to the year continued into the second quarter with Group sales for the Period 5.8% ahead of the prior year at £9.81m (H1 2024: £9.27m).</li>
<li>The UK and ROI delivered sales at the end of the Period 7.3% ahead of the prior year. As planned, the major investment in the Group's manufacturing facility is scheduled for completion by the end of Q3. </li>
</ul>


AIREA 23.00p £9.51m (AIEA.L) The UK design-led specialist flooring Company supplying both the UK and international markets announced a trading update for the six months ended 30 June 2025.
The Company reported the encouraging start to the year continued into the second quarter with Group sales for the Period 5.8% ahead of the prior year at £9.81m (H1 2024: £9.27m).
The UK and ROI delivered sales at the end of the Period 7.3% ahead of the prior year. As planned, the major investment in the Group's manufacturing facility is scheduled for completion by the end of Q3. 


IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/apm-human-services-internation" target="_blank" data-smartkarma-citation="entities:34808:1" rel="noopener">APM Human Services (APM AU)</a> IE considers Madison Dearborn Partners (MDP)’s A$1.45 offer fair and reasonable as it is within the A$1.40 to A$1.74 valuation range. </li>
<li>The offer is conditional on FIRB, US HSR and shareholder approval. FIRB approval should be forthcoming as MDP is the second-largest shareholder.</li>
<li>While the offer remains underwhelming, rollover shareholders and quiet retail boards should ensure the vote passes. At last close and for the 10 October payment, the gross/annualised spread is 1.4%/10.1%.</li>
</ul>


The APM Human Services (APM AU) IE considers Madison Dearborn Partners (MDP)’s A$1.45 offer fair and reasonable as it is within the A$1.40 to A$1.74 valuation range. 
The offer is conditional on FIRB, US HSR and shareholder approval. FIRB approval should be forthcoming as MDP is the second-largest shareholder.
While the offer remains underwhelming, rollover shareholders and quiet retail boards should ensure the vote passes. At last close and for the 10 October payment, the gross/annualised spread is 1.4%/10.1%.


APM Human Services (APM AU): Scheme Vote on 18 September

Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

<ul><li>Our estimations for FY 2023 indicate a projected annual revenue of £959 million, with further growth expected in FY 2024, reaching approximately £988 million.</li><li>In comparison, the company's revenue for the fiscal year 2022 amounted to £941 million, showcasing a slight decrease from the £943 million reported in 2021.</li><li>Notably, the operating profit surged to £4.6 million in 2022, demonstrating a substantial increase from the £2.3 million recorded in 2021. </li></ul>

Our estimations for FY 2023 indicate a projected annual revenue of £959 million, with further growth expected in FY 2024, reaching approximately £988 million.In comparison, the company's revenue for the fiscal year 2022 amounted to £941 million, showcasing a slight decrease from the £943 million reported in 2021.Notably, the operating profit surged to £4.6 million in 2022, demonstrating a substantial increase from the £2.3 million recorded in 2021. 

Company Update - Staffline Group Plc - January 11, 2024

United Kingdom

Staffline Group plc is a UK-based recruitment company that provides recruitment and outsourced human resource services, offering temporary, permanent, and flexible staffing solutions across various sectors like food processing, manufacturing, e-retail, driving, and logistics. It also delivers skills training and employment support services. The company was founded in Nottingham, UK, in 1986.

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Staffline (STAF LN)

Hybridan Small Cap Feast: 20 January 2026

The mobile internet payment platform Company announces a trading update for the 12 months ended 31 December 2025, ahead of announcing FY25 Final...

Hybridan

Hybridan Small Cap Feast: 29/07/2025

AIREA 23.00p £9.51m (AIEA.L) The UK design-led specialist flooring Company supplying both the UK and international markets announced a trading...

Hybridan

APM Human Services (APM AU): Scheme Vote on 18 September

While the offer remains underwhelming, rollover shareholders and quiet retail boards should ensure the vote passes. At the last close, the gross...

Arun George

Company Update - Staffline Group Plc - January 11, 2024

EBITDA for the fiscal year 2022 stood at an impressive £10.2 million, while EBT and EATAM were reported at £1.9 million and £3.8 million,...

VRS (Valuation & Research Specialists)

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