Capital for Colleagues plc - Portfolio Update - Merkko Group Limited
PR Newswire
London, May 4
Capital for Colleagues plc / EPIC: CFCP / Market: AQSE / Sector: Investment
5 May 2022
CAPITAL FOR COLLEAGUES PLC
('Capital for Colleagues' or the 'Company')
PORTFOLIO UPDATE - MERKKO GROUP LIMITED
Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Business ('EOB') sector, is pleased to announce that it has sold its remaining investment in portfolio company Merkko Group Limited ('Merkko').
Merkko is a builder's merchant located in Kingston Bagpuize, Oxfordshire, which has been sold on the retirement of its owner and major shareholder. Capital for Colleagues' original investment in Merkko, made in 2015, was redeemed in 2020 for a profit of 100%, at which time the Company re-invested £150,000 of the proceeds to subscribe for ordinary shares in Merkko. These ordinary shares are now being sold for cash consideration of approximately £378,000, a profit of around 150%.
The proceeds of this disposal will be applied in the ongoing fulfilment of the Company's investment strategy and for general working capital purposes.
Alistair Currie, Chief Executive of Capital for Colleagues, said:
'We are delighted with the profitable realisation of our investment in Merkko. We have supported and guided Merkko since 2015 and wish the new owners and employees of Merkko well on the next stage of the company's development'.
Ian Duckitt, Managing Director of Merkko, said:
'The Board of Merkko Group is pleased to have concluded this agreement to sell the business to Independent Builders Merchants Group. We would like to thank Capital for Colleagues for their valuable assistance in our early years of trading'.
**ENDS**
For further information, please visit www.capitalforcolleagues.com or contact:
CAPITAL FOR COLLEAGUES PLC Richard Bailey, Chairman Alistair Currie, Chief Executive | 01985 201 980 |
| PETERHOUSE CAPITAL LIMITED Mark Anwyl | 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. In addition, the Company educates and assists companies that 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
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018).
