The information
contained in this announcement is restricted and is not for
publication, release or distribution in the United States of
America, any member state of the European Economic Area, Canada,
Australia, Japan or the Republic of South Africa.
6 November 2024
Literacy Capital plc ("Literacy Capital",
"BOOK" or the "Fund")
New Investment
Literacy Capital invests in amplify5 - a
rapidly growing offshoring business
Literacy Capital is pleased to announce an investment
into amplify5 (or the "Company"), a leading and innovative
UK-headquartered business, specialising in offshoring critical
business function solutions to Cape Town, South Africa.
BOOK has made an investment for a significant minority
stake and provided capital to fund and accelerate further growth of
the business under the founder's continued leadership. Further
financial terms have remained undisclosed.
The Company provides a range of bespoke offshoring
solutions to corporates and SMEs across a variety of sectors.
amplify5's agile operating model provides a flexible offering to
customers, transforming the Business Process Outsourcing sector.
These solutions include customer services, finance, accounting and
payroll and administration back-office services, providing its
clients with cost savings, improved processes and ability to focus
on their core business activity.
Founded in 2021 by Alastair Brass, amplify5 has
established itself as an innovative and specialist offshoring
provider, with delivery based in Cape Town, South Africa. Following
the transaction, Alastair will remain at the centre of business
activities in his role as CEO, driving organic growth and ensuring
amplify5 continues to deliver its customer centric service offering
to its impressive set of clients across the UK, Europe and the
US.
Use of technology will remain at the forefront of
amplify5's business activities, allowing the business to
continuously improve efficiency and service quality for
clients.
Richard Pindar, CEO
of BOOK's Investment Manager, commented:
"We're pleased to
make our 25th investment since inception of the fund in
amplify5, a rapidly growing and disruptive offshoring business. The
investment from Literacy Capital will support and accelerate
amplify5's exciting growth plans, enabling the business to expand
into additional Cape Town locations, increase capacity and
strengthen its team.
We
continue to believe that investing in smaller,
private companies is where the most value can be added and most
rapid growth can be achieved and we continually look to recycle the
capital received from our existing portfolio into businesses with
excellent potential. We look forward to amplify5 joining our
exciting cohort of portfolio companies."
Enquiries
For further
information, please contact:
|
Literacy Capital plc / Book Asset Management
LLP:
Richard Pindar / Aasha
Tailor
|
+44 (0) 20 3960 0280
|
|
MHP Group:
Reg Hoare / Ollie Hoare /
Matthew Taylor
|
+44 (0) 7817 458804
book@mhpgroup.com
|
|
Singer Capital Markets Securities
Limited:
Alaina Wong
|
+44 (0) 20 7496 3000
|
About Literacy
Capital:
Literacy Capital (BOOK.L) is an
investment trust that was co-founded by Paul Pindar and Richard
Pindar in 2017 with £54m of capital. Literacy subsequently listed
on the London Stock Exchange in June 2021. The Fund focuses on
opportunities to invest for the long-term in growing private
businesses where a clear route to creating additional value can be
seen with its support. The fund structure is evergreen, allowing it
to be more flexible and to accommodate the wishes or needs of
founders.
It also has a unique charitable
objective, to donate 0.9% of annual NAV to charities focused on
improving UK literacy in children. £10.6m has been donated or
reserved for donation to charities since the trust's creation in
2017. For more information, please visit our
website: www.literacycapital.com.
Website:
www.literacycapital.com
LEI: 2549006P3DFN5HLFGR54
A copy of this announcement will be available on the
Fund's website at
www.literacycapital.com.
