Caledonia Investments PLC Portfolio Update (5098W)
01 August 2018 - 10:43PM
UK Regulatory
TIDMCLDN
RNS Number : 5098W
Caledonia Investments PLC
01 August 2018
SEVEN INVESTMENT MANAGEMENT COMPLETES ACQUISITION OF TCAM
Caledonia Investments plc ("Caledonia") is pleased to announce
that its investee company, Seven Investment Management ("7IM"), has
completed the acquisition of Tcam Asset Management ("Tcam") on 31
July 2018. As part of the financing of the acquisition, Caledonia
has invested a further GBP14.0m in 7IM.
Tcam is an Edinburgh based discretionary asset manager with
approximately GBP1.2bn of total assets under management ("AuM").
Tcam brings a strong management team and a number of new investment
products and services focused on the high net worth client segment.
This is in line with 7IM's stated strategy of expanding its product
mix and distribution channels.
The enlarged 7IM has GBP14bn of AuM operating from offices in
London, Edinburgh and Jersey.
Tom Sheridan, 7IM's Chief Executive Officer commented:
"Tcam is a fabulous addition to the 7IM family. The Tcam team
will augment 7IM's London and Jersey based operations, providing us
with a strong base in Edinburgh as well as additional resource and
expertise in our investment team."
Duncan Johnson, Caledonia's Head of Unquoted Investments,
added:
"The investment in 7IM exemplifies Caledonia's successful,
partnership approach to investing, providing the support and
follow-on capital required to build incremental sustainable value
in our investee companies over the long term."
1 August 2018
For further information contact:
Caledonia Investments
plc +44 20 7802 8080
Duncan Johnson
Head of Unquoted Investments
Will Wyatt
Chief Executive
Media contact:
Tulchan Communications +44 20 7353 4200
Peter Hewer
Lisa Jarrett Kerr
END
Notes for editors:
Caledonia Investments plc
Caledonia is a self-managed investment trust company listed on
the London Stock Exchange with net assets of approximately GBP1.9bn
as at 30 June 2018. The Company maintains a concentrated portfolio
of international quoted, unquoted and fund investments and has paid
an increasing annual dividend for 51 years.
In the unquoted arena, Caledonia seeks to invest GBP25m to
GBP100m in private companies, either on a majority or minority
basis, providing a meaningful presence and growth capital
supporting double-digit operating margins. Its current unquoted
portfolio includes Cobehold (a European unquoted investment house),
Buzz Bingo (the UK market leading retail bingo operator),
Liberation Group (an integrated pubs, drinks and brewing business),
Seven Investment Management (a provider of discretionary fund
management, asset management and self-invest platform services),
Brookshire (a property investment company), Choice Care Group (a UK
learning disability care homes provider) and Cooke Optics (the
leading cinematic lens manufacturer based in Leicester).
For additional information on Caledonia, please visit
www.caledonia.com.
7IM
7IM was founded in 2002 by its current management team and
specialises in multi-asset risk-rated investment, which it offers
through discretionary fund management, asset management and
self-invest services. Post the acquisition of Tcam, 7IM has assets
under management and administration of approximately GBP14bn.
For additional information on 7IM, please visit
www.7im.co.uk.
Neither the contents of Caledonia's nor 7IM's websites, nor the
contents of any website accessible from hyperlinks on these
websites (or any other website) is incorporated into, or forms part
of, this announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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