This is one to keep an eye on. If it does become even remotely as successful as Homeserve (HSV) then the shares will be motoring..............

Update: Mavinwood takes on Homeserve

LONDON (ShareCast) - Mavinwood, the cash shell turned support services firm, said current trading has been in line with expectations as it looks to take on Homeserve in the emergency services market.

Run by former British Gas executive Kevin Mahoney, who attempted to buy drain-cleaning firm Dyno-Rod last year before a large shareholder pulled out of the deal, the company recently acquired a similar business though the 25m acquisition of ANSA in June.

ANSA provides drain cleaning services and well as handling insurance claims. Mavinwood is hoping to use the business as a platform to create an Emergency Services division.

Kevin Mahoney is looking to expand the current services ANSA offers, moving into other avenues around the home, in a bid to provide customers with an alternative to home repair and services provider Homeserve. The group is looking to add on acquisitions to complement the business and hopes to announce a deal by the end of the year.

The other area of the business was started through the 6m acquisition of Restore in May, which provides data storage and document management services. Mahoney suggests this area too is ripe for consolidation and Mavinwood is already on the look out for deals.

Mavinwood reported a pre-tax loss of 122,000 for the six months to June against a loss of 81,000 last time, though this does not include trading from teh acquired businesses.

Forecasts expect the group to turn in a profit of some 1.5m for the year.

Supermono, it seams you have a fun club! I would like to know more about this company before I decide to invest on it. Can you tell me why you think it will be a good investment?
kays

Homeserve is a superbly run Company. It is one of my few non-oil related long term holds.
If Mavinwood can tap into this rich source of profitable business then the shares will do very very well IMO.
The acquisition of data storage provider Restore is also a shrewd move.
Mavinwood shares would appear to be very attractively priced on forecast profits of 1.5 million.

As always DYOR

K******

Been doing a bit of research on the Company in the last couple of days.
This week Seymour Pierce began coverage on MVW with a 'BUY' recommendation.
They forecast eps of 0.57p for this year and 0.81p for y/e 12/06.
This gives a prospective p/e of 11 for next year.
Homeserve, with a share price of 10.25 and forecast eps of 55.1p for y/e 03/06 is on a prospective p/e of 19 for next year.

Mavinwood looks very attractive so I tried to buy some shares at 9.25p this morning (the real time screen price offered). The order was not fulfilled and the offer price got marked up to 9.75p immediately (you would have thought it would have stopped at 9.5p !!).

So now it is under constant monitoring in the hope that the MM's mark it down a tad.

K******

Same hear I placed an order yesterday at 9.15 but did not get it, was trying again in the morning but the priced jumped up. Dont know what to do anymore. will be watching closely.

I think both of you should have realised that the price was going up and placed your bid on the asking price, rather then trying to save few pences. I am sure you will be paying more next week if you decide to buy.I think there is a stock shortages on this company that is why the market makers did not take your orders. I have had a look at another company, Homeserve (MVW) which does similar business and I would agree with Supermono I think this copmany has a good chance of becoming a future Homeserve.

Have also looked at the Seymour Pierce forecasts mentioned above.
It implies a fair valuation of at least 16p per share short term.
Additionally the Company are still on the lookout for further acquisitions.

A bargain !!!!!!

;o)

I put in a small order to buy shares at 9.65p this morning (nothing to cause any panic to the MM's - just testing their resolve !!).
Still not being given any.
Very strange.

K******

Another day and I upped my buy order limit to 9.7p.
Despite 3 sells between 9p and 9.09p my order is still to be fulfilled.
Come on MM's !!!! Gimme the shares !!!

K******

Do me a favour krypton, Just give them what they are asking for! You will get your shares. I can assure you, it will be well worth in future.

Hello everyone.
It has begun to creep up on the strength of one purchase - the MM's putting the offer up to 10p.
I hope it was Krypton getting in !!!
I am very intrigued by the MM's behaviour on this one (absorbing every sale over the last week whilst the price has continued to creep up with very little buying).
It bodes well.

;o)

I am very annoyed (not to say a little confused).
How come someone was accommodated at 9.45p this morning when, for the last couple of days, I have placed orders at 9.65p and 9.7p.
Now I see that sellers are getting 9.45p even though the quote is 9 bid and 10 offered !!
Now I have placed an order at 9.75p for a reasonably large amount to see if they give me that.

K******

I thought it was you who made the purchase Krypton. But obviously there is something wrong with your broker, you should ask for an explanation why they can not get your order at a higher price when some one else is able to purchase it at a lower price.

Hello Doc

As you can see it wasn't me.
Never mind. Maybe they'll give me some at 9.75p
If not then the share price is bound to go up again and you can all buy me a drink !!

K******

Hey Krypton

Several sells at 9.45 but your buy order has not materialised.

You're being stitched up by the MM's my friend !!

;o)

Are you sure they are sells as I bought 10,000 at 9.45p at 14:37 today on iDealing

I don't believe it !!! (as Victor Meldrew would say).

Managed to get a nice chunk this morning at a very reasonable price.
Why the MM's messed about all week remains a mystery but, now, I am glad they did.

K******

Nice to see you are in atlast.

At last we're on the move.
The bid has gone up to 9.25 and offer is 9.75.
We could be on our way.
Hold on tight.

K******

9.75 bid and 10.25 offered.
Superb !!!
Onwards and upwards.

K******

Nice to see it going up! I am sure there is lot more to come if you compare HSV. soon we should see it near 16-18p which would be a fair value for this company.