Braveheart Investment Group, quoted on London’s Alternative Investment Market exchange and which runs assets for high net worth individuals and organisations such as family offices, has bought UK firm Neon Capital Partners from NF Holdings for £380,000 (around $603,100).

The deal is subject to a post-completion net working capital adjustment, expected to be £300,000. Such consideration is to be satisfied entirely in cash.

Neon operates from offices in Barnsley and Leeds in the north of the UK. It was established in February 2010 to be the manager of the £48 million Finance Yorkshire Equity Fund. Neon has not traded and until immediately prior to the acquisition the management services for the fund were performed by another company in the NF Holdings group.

The firm employs five staff and has one subsidiary company.