Marwyn Value Investors Limited Investment in Wilmcote Holdings plc (1189A)
March 22 2017 - 2:00AM
UK Regulatory
TIDMMVI
RNS Number : 1189A
Marwyn Value Investors Limited
22 March 2017
22 March 2017
Marwyn Value Investors Limited ("Marwyn")
Investment in Wilmcote Holdings plc
Marwyn announces the launch of a new management platform,
Wilmcote Holdings plc ("Wilmcote"), established in partnership with
Adrian Whitfield, who has been appointed as its Chief Executive
Officer. Adrian is an experienced executive who recently spent nine
years successfully implementing a turnaround and growth strategy at
Synthomer plc, the UK listed (FTSE-250) specialty polymer operator.
Over Adrian's nine year tenure, he more than doubled operating
profits and increased Synthomer's market capitalisation from
c.GBP300 million to over GBP800 million. Synthomer (formerly known
as Yule Catto & Co.) is a global manufacturer of specialty
polymers for the coatings, construction, textiles, paper and
healthcare industries. Prior to Adrian's role at Synthomer, he was
the Chief Executive for the Plastics Division of DS Smith, a
manufacturer of paper and packaging products, for seven years.
Wilmcote is focused on creating value through the acquisition
and subsequent development of target businesses in the downstream
and specialty chemical sectors. Wilmcote intends to acquire and
operate businesses initially with an enterprise value in the range
of GBP500 million to GBP2.0 billion.
On 21 March 2017, Marwyn Asset Management Limited as manager
authorised a subscription for GBP10 million of new ordinary shares
in Wilmcote. Marwyn's share of the cost of this investment
represents approximately 6.7% of Marwyn's NAV attributable to the
Ordinary Shares (measured as at 28 February 2017).
This capital raise of GBP10 million will provide Wilmcote with
due diligence and operating capital prior to an initial platform
acquisition. Wilmcote is currently not listed but intends to seek a
public listing either before or at the time of completing its
initial platform acquisition.
James Corsellis and Mark Brangstrup Watts, the founders of the
Marwyn group, are both directors of Wilmcote.
Mark Brangstrup Watts commented: "The investment in Wilmcote
Holdings is a further demonstration of our stated strategy to
diversify the portfolio by backing proven management teams to
deliver strong returns to investors. We are excited to be working
with a CEO of Adrian's calibre and look forward to delivering value
creation in a sector with such interesting investment
opportunities".
Company enquiries:
Louisa Bonney / Scott Danks
Axio Capital Solutions Limited
Telephone: 01534 761240
PR enquiries:
Alex Child-Villiers / Ed Orlebar
Temple Bar Advisory Limited
Telephone: 020 7002 1080
Notes to Editors:
Marwyn's strategy is to identify, support, invest in and work
alongside experienced operational management teams in mid-cap
businesses headquartered in the UK, Europe or North America, often
with global operations.
Marwyn's approach brings private equity-style investment
principles to bear in primarily public equity environments. Marwyn
acquires equity stakes typically as a cornerstone investor and
draws upon capital from a high calibre universe of co-investors
which augments purchasing power when pursuing acquisitions and
provides an independent validation of Marwyn's investment
thesis.
Funds managed by Marwyn Asset Management Limited include
investments in BCA Marketplace plc, Zegona Communications plc, Gloo
Networks plc, Le Chameau Group plc and Safe Harbour Holdings plc.
The private vehicle previously launched as Marwyn Specialty
Chemicals plc in September 2016 was subsequently renamed Safe
Harbour Holdings plc, with its target focus refined to B2B
distribution and outsourcing businesses across a range of
sectors.
-End-
This information is provided by RNS
The company news service from the London Stock Exchange
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