Investment in TG Engineering
Capital for Colleagues plc / EPIC: CFCP / Market: NEX / Sector: Investment
15 March 2018
CAPITAL FOR COLLEAGUES PLC (‘Capital for Colleagues’ or the ‘Company’)
INVESTMENT IN TG ENGINEERING LIMITED
Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Business (‘EOB’) sector, is pleased to announce that the Company has invested GBP 600,000 in a new portfolio company, TG Engineering Limited (‘TGE’).
TGE, which operates from a 20,000 sq. ft factory in Ferndown, near Poole in Dorset, manufactures precision machined, extremely high tolerance, steel and aluminium components for use in the aerospace and scientific industries.
As part of a corporate re-structuring, Capital for Colleagues has made a loan of GBP 600,000 (the ‘TGE Loan’) to a company into which the business and assets of TGE are being transferred. On completion of the re-structuring, Capital for Colleagues will have a 35% interest in TGE, with the remaining shares held by the founders and managers of TGE (45%) and a newly established Employee Share Ownership Trust (20%).
The proceeds of the TGE Loan will be used to pay down existing debt within TGE and for general working capital purposes.
The Company’s joint venture, Castlefield Corporate Advisory Partners, was responsible for identifying the acquisition, advising Capital for Colleagues on the terms of its participation and managing the transaction to completion.
The Directors of the Company are responsible for the contents of this announcement.
For further information, please visit www.capitalforcolleagues.com or contact:
CAPITAL FOR COLLEAGUES PLC
Richard Bailey, Chairman
John Eckersley, Chief Executive
0161 464 3260
PETERHOUSE CORPORATE FINANCE LIMITED
020 7469 0930
Capital for Colleagues
Capital for Colleagues is an investment company focused on the UK EOB sector. The Company has a proven management team, with a wide network of contacts and affiliates, as well as established access to investment opportunities, enabling the Company to execute its strategy and capitalise on EOB-focused investment opportunities.
The Company’s joint venture, Castlefield Corporate Advisory Partners, educates and assists companies which are looking to launch employee ownership schemes, advising them, amongst other things, on how to secure investment and achieve their objectives.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.