Literacy Capital PLC New Investment
November 16 2021 - 1:00AM
RNS Non-Regulatory
TIDMBOOK
Literacy Capital PLC
16 November 2021
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is not for publication, release or distribution in the United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.
16 November 2021
Literacy Capital plc ("Literacy Capital" or the "Company")
Literacy Capital completes new investment in Cross Rental
Services
New investment
Literacy Capital is pleased to announce that on 3 November 2021
it completed an investment into Cross Rental Services, a market
leading provider of Refrigeration & Catering and Climate
Control rental equipment. The investment was announced publicly on
15 November.
Literacy Capital acquired a small minority stake, with further
financial terms remaining undisclosed.
Literacy Capital completes minority investment into Cross Rental
Services
Literacy Capital plc has completed a minority co-investment into
Cross Rental Services ('CRS'), a market leading provider of
Refrigeration & Catering and Climate Control rental
equipment.
Headquartered in Andover, with operations across the UK and
Ireland, CRS serves blue-chip customers across a diverse range of
end markets, including retail, manufacturing, and facilities
management. CRS was sold to Elysian Capital in August 2021, and has
made significant progress since then, including the acquisition of
All Seasons Hire from HSS PLC, completed in September 2021. The
acquisition creates one of the market leading Climate Control
rental providers in the UK alongside the already strong position
held in the UK Refrigeration & Catering rental space.
Literacy Capital are investing alongside the pre-existing
majority shareholder, Elysian Capital, as well as other
co-investors, including Lonsdale Capital Partners and Nord Holding.
We recognise the significant growth opportunities, both organic and
inorganic, available to the business in the coming years and are
delighted to be embarking on the journey with CRS.
The transaction represents Literacy Capital's eighteenth
platform investment completed since the inception of the fund in
September 2017, and its first since the fund was listed on the
London Stock Exchange in June 2021. Literacy Capital has also
supported its portfolio companies in completing six bolt-on
acquisitions this calendar year.
Enquires
Singer Capital Markets Securities Limited:
Robert Peel / Amanda Gray
+44 (0) 20 7496 3000
Literacy Capital plc / Literacy Capital Asset Management
LLP:
Tom Vernon
+44 (0) 20 3960 0280
LEI: 2549006P3DFN5HLFGR54
A copy of this announcement will be available on the Company's
website at https://www.literacycapital.com/.
The information contained in this announcement regarding the
Company's investments has been provided by the relevant underlying
portfolio company and has not been independently verified by the
Company.
This announcement is for information purposes only and is not an
offer to invest. All investments are subject to risk. Past
performance is no guarantee of future returns. Prospective
investors are advised to seek expert legal, financial, tax and
other professional advice before making any investment decision.
The value of investments may fluctuate. Results achieved in the
past are no guarantee of future results. Neither the content of the
Company's website, nor the content on any website accessible from
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into, or forms part of, this announcement nor, unless previously
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