Financial Services

Anexo Group plc

Market Cap (£m) 142.0
Listing AIM

Analysts

Company Description

Anexo is a specialist integrated credit hire and legal services group focused on providing replacement vehicles to consumers involved in a non-fault accident. Its clients are typically impecunious and do not have options to access a replacement vehicle, which allows the group to charge credit hire rather than spot hire rates, recovering these charges from the at-fault insurer. It has a highly experienced management team with experience in both credit hire and legal services. The group's specialist credit hire and initial claims management business, EDGE, offers a complete solution for non-fault motorists. Its legal services business, Bond Turner, conducts the processing of the claim against at-fault motorists and their insurers, and secures settlement. It also has an in-house advocacy and specialist litigation team.

Investment Summary

Anexo Group has established itself as a provider of an end-to-end litigated claims service to predominantly impecunious non-fault motorists. It provides replacement vehicles - either from its own fleet or leased - and associated legal services. Thorough vetting of potential claims backs a high pre-court settlement rate. Targeting measured growth in credit hire while recruiting more high-quality litigators, Anexo is increasing its capacity to settle cases and improve cash generation. Anexo's in-house advocacy team is currently involved in the VW emissions case, which remains a potentially significant positive impact on revenue and profits. By executing on its growth strategy and managing that balance between new business generation and cash collection from existing cases, we expect Anexo to produce strong earnings growth and cash generation.

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Company Management Team

  • Alan Sellers

    Executive Chairman

    Alan Sellers was called to the Bar in 1991 at the Gray's Inn Bar and is currently practising from the Liverpool Civil Law Chambers. Alan is an expert in civil litigation, personal injury and credit hire claims and clinical and professional negligence, and he is recognised as a leading figure in these fields. Mr Sellers was one of the founders of the business and has been instrumental in forming Anexo Group plc as it operates today. On admission, Mr Sellers will continue to practise as one of Anexo's in-house team of barristers.

  • Mark Bringloe

    Chief Financial Officer

    Mark Bringloe is a Chartered Accountant having previously worked at Ernst & Young, Robson Rhodes and BDO. Mark was Director in BDO's Corporate Finance team prior to working as a consultant. Mark joined Anexo in 2009 before joining the Board in 2009 as Chief Operating Officer.

Key Dates

Jun 2019
12th
Q2 TU
Actual
Aug 2019
6th
Q2 TU
Actual
Sep 2019
10th
Interims
Actual
Nov 2019
12th
CMD
Actual
Dec 2019
6th
Q3 TU
Estimate
Jan 2020
28th
Q4 TU
Actual
Apr 2020
3rd
Q1 TU
Actual
Jun 2020
22nd
AGM
Actual
Jun 2020
29th
Finals
Actual
Jul 2020
22nd
AGM
Actual
Aug 2020
13th
Interims
Actual
Jan 2021
25th
Q4 TU
Actual
Apr 2021
1st
Q1 TU
Estimate
Apr 2021
27th
Finals
Actual
Jun 2021
9th
Q2 TU
Actual
Jun 2021
16th
AGM
Actual
Sep 2021
13th
Interims
Actual
Jan 2022
18th
Q4 TU
Actual
Apr 2022
7th
Q1 TU
Actual
May 2022
11th
Finals
Actual
Jun 2022
9th
Q2 TU
Estimate
Jun 2022
16th
AGM
Actual
Sep 2022
13th
Interims
Estimate
Jan 2023
18th
Q4 TU
Estimate
Apr 2023
7th
Q1 TU
Estimate
May 2023
11th
Finals
Estimate