Opinion: Nexus debt raise

That Nexushas chosen to raise £20mn+ of debt when a fresh wave of
London market M&A is starting may puzzle some in the managing
general agency (MGA) space.
Following Vitruvian's CFC buy-in at a hefty 15x forward
Ebitda, MGA M&A is clearly on the agenda, and banking sources
had previously identified Nexus as the likeliest next candidate for
a deal.
The firm's decision to raise debt seems to end speculation
that it will look to do something with its...