Zeus Capital

All research provided by Zeus is sponsored by the issuer and is therefore specifically exempt from the inducement rules. The research is therefore freely available to all Institutional Investors.

Zeus is an independent investment banking boutique, providing the highest quality advice to clients across a range of sectors and transactions. £3.6bn+ has been raised by Zeus as Sole or Joint broker and/or book-runner over the last four years. Our expertise enables us to guide companies through the often complex process of making acquisitions, selling a business, management buy-outs/ins and IPOs. Zeus acts as Nominated Adviser and Broker on public market admissions, along with offering continued support to AIM listed businesses.

Regulatory Information

  • Regulatory Status: Zeus Capital Ltd is authorised and regulated by the Financial Conduct Authority; approved as a Nominated Adviser and Broker by the AIM Market of the London Stock Exchange
  • ID Number: 224621

Charlie Cullen
  • Charlie Cullen

Croma Security Solutions Group (CSSG LN) - Steady trading with healthy...

Croma Security, a leading UK provider of locksmith and security solutions, has released in-line interim results, reflecting a period of steady underlying performance and benefits coming through from ongoing acquisitions. Revenue for the year was reported to have grown 9% to £5.0m, on track for full year expectations, reflecting contributions from prior year locksmith acquisitions. As expected, EBITDA was down yoy at £0.44m (H1 2025: £0.57m), reflecting additional costs taken on to support long t...

David Seers
  • David Seers

Altona Rare Earths (REE LN) - USTDA Grant funding secured - Corporate

Altona reports that it has secured nearly $1.9m in grant funding from the United States Trade and Development Agency (USTDA), marking the formal launch of a strategic partnership with the US Government to advance the Monte Muambe rare earths project in Mozambique.

Bob Liao
  • Bob Liao

Winking Studios (WKS LN) - 2025 results: Strategic progress - Corporat...

The company delivered 2025 results ahead of expectations. The company’s scale, deep client relationships and broad service offering are driving market share gains. In addition, Winking saw a recovery in the overall global video game market in H2 and studios increasingly allocating development and artwork to outsourcing partners. We conservatively leave our forecasts unchanged, leaving the opportunity for upgrades. Even based on these conservative forecasts, Winking trades at EV/Adj. EBITDA of 7....

John Cummins
  • John Cummins

Avation (AVAP LN) - Interim results reflect continued progress  - Corp...

Avation, a lessor of 33 commercial aircraft, has released interim results to 31 December 2025 this morning, reporting a solid set of underlying numbers that illustrate stable lease revenue and progress on aircraft transitions and new aircraft deliveries. Strong demand for air travel (IATA report 5.3% yoy traffic growth in 2025) and constrained aircraft supply continue to support aircraft valuations, as evidenced by Avation’s sale of a Boeing 777 for a $4.1m gain over book value in the period. Wh...

Andy Hanson
  • Andy Hanson

Nexus Infrastructure (NEXS LN) - Positive developments in FY25 despite...

As announced in the trading update at the end of October, Nexus has reported revenue of £65.9m, marginally below Zeus’ estimate of £67.4m but still showing impressive yoy growth of 16%. Gross margin of 15.6% is up 210bps yoy and 100bps ahead of the 14.6% Zeus estimate. This led to Gross profit of £10.3m ahead of Zeus’ £9.8m estimate. Loss before tax of £1.6m was marginally higher than the Zeus estimate of £1.5m, due to increased costs particularly labour, but still showed good yoy progress from ...

ZEUS PODCAST: A Different Perspective podcast: Simon Young, Experience...

A Different Perspective podcast Nick Searle speaks to Simon Young, UK Fund Manager. An extremely experienced portfolio manager, Simon has focused on income mandates for many years. Following Cambridge University, Simon joined Mercury Asset Management which became Blackrock, and has also worked at Aviva and AXA Asset Management. Simon and Nick discuss Simon’s background and career progression, the appeal income mandates and cash generative companies and views on how macro headwinds will affect ...

ZEUS PODCAST: A Different Perspective podcast: Hugh Hendry, The Acid C...

This week the legendary Acid Capitalist Hugh Hendry joins Nick for a truly different perspective. Previously at Baillie Gifford and Odey Asset Management Hugh’s Eclectica macro hedge fund was famously up 50% in 2003 and up 50% in the month of October in 2008. Monikered as a contrarian investor, Hugh certainly has some very different views as Nick runs through a tally of macro thoughts and themes.

ZEUS PODCAST: A Different Perspective podcast: Richard Howarth

In this episode, Zeus' Nick Searle, Equity Sales Director, speaks to ex-hedge fund manager, Richard Howarth. Richard had a very successful career at Brewin Dolphin, Clerical Medical and Insight yet decided to retire six years ago as ‘money can’t buy you time’. Richard now lives in Switzerland skiing in the winter and climbing in the summer whilst continuing to invest in the markets. In A Different Perspective podcast, Nick Searle, Equity Sales at Zeus, speaks to interesting characters within f...

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