In its first move, it has completed a 16.7 million pounds ($30 million) acquisition of Azur Holdings Ltd, a services company with 300 SME customers in the commercial and industrial sectors. When Maxima floats on the alternative investment market of the London stock exchange, it is expected to have a market value of 15 million pounds ($26.9 million).
Maxima directors believe that a significant number of potential acquisition targets are available in both in the UK and in mainland Europe, which lack the critical mass, financing and management expertise to fully exploit their potential.
Azur chief executive Kelvin Harrison, who will take the same job at Maxima, said he aimed to build a focused IT services group, a professional services company rather than one that was vulnerable to IT product development.
Maxima is targeting application software and service companies generating revenue of between 2 million and 20 million pounds ($3.6 million to $36 million), companies with something to offer but going nowhere fast.
