NAHL Group (LON: NAH), the AIM-listed marketing and services group behind National Accident Helpline, rose after agreeing to sell its non-core Searches UK subsidiary to TM Group (UK) Limited for an enterprise value of £1,234,000. NAHL disclosed the binding conditional deal in an RNS before the London market opened today.
NAH shares climbed to an intraday high of 36.4p, up 8.66% from Wednesday’s close of 33.5p, on volume of 68,200 shares. That puts the stock roughly midway in its 52-week range of 29.2p to 58.725p, with the company valued at around £16.2m.
Searches UK supplies conveyancing searches to solicitors in England and Wales and employs 11 staff. Part of NAHL since 2016, the unit no longer fits the group’s focus on consumer legal services and critical care. Chief executive James Saralis said: “We are delighted to announce that we have reached a binding conditional agreement for the sale of our Searches UK business to TM Group. Searches UK is a great business with a fantastic team but is no longer core to our principal activities. As a result, we are confident that now is the right time for TM Group to take the business forward.”
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Searches UK generated FY2025 revenue of £3,343,000 and EBITDA of £363,000 for the year to 31 December 2025. On a trailing 12-month basis to 30 June 2026, adjusted EBITDA was £235,000, putting the deal at roughly 5.25 times that more recent adjusted figure. NAHL expects net proceeds of about £1,122,000 after costs, to be applied against its revolving credit facility, cutting borrowing.
The disposal sits alongside an ongoing board review of NAHL’s strategic options and capital allocation policy, against a backdrop of thin trading in the shares.
Completion is conditional on Competition and Markets Authority clearance and is not expected before 1 October, with a long-stop date of 26 January 2027. NAHL is due to report unaudited interim results for the six months to 30 June in late September.
