Marwyn Value Investors Limited Additional investment in Wilmcote (0506N)
03 August 2017 - 9:18PM
UK Regulatory
TIDMMVI
RNS Number : 0506N
Marwyn Value Investors Limited
03 August 2017
Marwyn Value Investors Limited (the "Company" or "MVIL")
Additional investment in Wilmcote Holdings plc
Wilmcote announces intention to float
Wilmcote Holdings plc ("Wilmcote"), has today announced its
intention to float on the AIM market of the London Stock Exchange,
raising a further GBP15 million with backing from a number of
institutional investors. Marwyn Value Investors II L.P.(1) , in
which the Company's Ordinary shares are indirectly invested, will
invest GBP5.11 million in the placing, having previously invested
GBP10 million in Wilmcote in March 2017. The Company's underlying
economic exposure to Wilmcote attributable to the Ordinary shares
will be GBP11.5 million following the capital raise. The net
proceeds of the placing will in part be used to carry out due
diligence on potential acquisition targets and provide working
capital prior to the platform acquisition.
Wilmcote has been established with the objective to create value
for its investors through the acquisition and subsequent
development of target businesses in the downstream and specialty
chemicals sector. The Directors believe the sector offers
opportunities for capitalising on attractive structural trends and
consolidation in fragmented markets. They see potential for
significant value creation through the implementation of
operational improvements in the acquired businesses, ultimately
transitioning them to being customer-led and
application-centric.
Wilmcote intends to acquire businesses with an enterprise value
in the region of GBP500 million to GBP2 billion in order to create
significant shareholder value through a well-executed buy-and-build
strategy. Wilmcote is led by Adrian Whitfield, formerly CEO of
Synthomer plc where he successfully delivered a turnaround and
growth strategy, increasing market capitalisation by 13x from
turnaround lows. James Corsellis and Mark Brangstrup Watts, the
founders of the Marwyn Group(2) , are both Directors of
Wilmcote.
Mark Brangstrup Watts commented: "We are delighted to be backing
Adrian and to see additional support for Wilmcote's strategy from
institutional investors. The listing of Wilmcote is consistent with
our stated strategy of diversifying the portfolio and
backing-proven management teams in sectors offering significant
investment opportunities. "
Company enquiries:
Louisa Bonney / Scott Danks
Axio Capital Solutions Limited
Telephone: 01534 761240
Henry Freeman / Steve Pearce
Liberum Capital Limited
Telephone: 020 3100 2200
PR enquiries:
Alex Child-Villiers / Ed Orlebar
Temple Bar Advisory Limited
Telephone: 020 7002 1080
-End-
Notes to editors:
Marwyn Value Investors Limited is a closed-ended investment
company on the London Stock Exchange Specialist Fund Segment - a
fully regulated market for professional, institutional and
sophisticated investors. Current investments through its underlying
funds include BCA Marketplace plc, Zegona Communications plc, Le
Chameau Group plc, Gloo Networks plc, Safe Harbour Holdings plc and
Wilmcote Holdings plc.
For further information see www.marwynvalue.com
(1) MVI II LP is a fund comprising Jersey limited partnerships
registered pursuant to the Limited Partnership (Jersey) Law 1994,
being MVI II LP itself and MVI II Co-invest LP, a stapled
co-investment vehicle. Further details on MVI II LP and the MVI I
LP's investment in MVI II LP may be found in the Prospectus,
published in October 2016, and located on the Company's website
http://www.marwynvalue.com .
(2) Marwyn Investment Management LLP and entities owned or
controlled by it, or under common ownership or control with it
This information is provided by RNS
The company news service from the London Stock Exchange
END
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