Seymour Pierce, the UK niche investment bank, has made an offer to acquire antfactory, the UK strategic investment group that reported a loss before tax of $32.8m (€37m) for the first three quarters of this year.

Seymour Pierce said in October it was in discussions with the antfactory board about the possibility of making an offer. The bank, which offers corporate finance and stockbroking services and has a wealth management business, is using Hawkpoint for financial advice. It is the first time Hawkpoint has worked for Seymour Pierce.