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DJ Capital for Colleagues plc New Joint Venture Company

 
TIDMCFCP 
 
Capital for Colleagues plc / EPIC: CFCP / Market: NEX / Sector: Investment 
 
1 November 2017 
 
                          CAPITAL FOR COLLEAGUES PLC 
 
                  ('Capital for Colleagues' or the 'Company') 
 
                           New Joint Venture Company 
 
Capital for Colleagues, the investment vehicle focused on opportunities in the 
Employee Owned Business ('EOB') sector, is pleased to announce the 
establishment of a joint venture company which will allow the Company to focus 
exclusively on its core business of investing in EOBs. 
 
Since its formation in 2013, Capital for Colleagues has developed an investment 
portfolio which, as at 31 August 2017, comprised 16 private EOBs with an 
aggregate value of GBP 4.8 million. At the same time as building this 
portfolio, the Company has proved to be an effective advocate for the wider EOB 
sector, raising public awareness of Employee Ownership and actively promoting 
the benefits of it through education programmes and by identifying, advising 
and structuring potential EOBs. 
 
Whilst the Directors are proud of Capital for Colleague's achievements in this 
area, they also believe that the extent of the Company's engagement with the 
EOB sector has distracted from the Company's core business of investing in 
EOBs. 
 
The Directors have therefore decided to establish a new joint venture company, 
Castlefield Corporate Advisory Partners Limited ("CCAP"), which will assume 
responsibility for the non-investment EOB activities previously undertaken by 
Capital for Colleagues. In particular, CCAP will be responsible for educating 
businesses about the benefits of Employee Ownership (including succession 
planning), identifying potential investee companies for Capital for Colleagues 
and for advising those companies on the structure and presentation of their 
investment case to the Company. CCAP will also monitor and advise the Company's 
existing investee companies and source potential new investors for the Company. 
 
Capital for Colleagues will own 34 per cent of CCAP, with Castlefield Partners 
Limited ("Castlefield") owning 51 per cent; the balance of 15 per cent is to be 
held by CCAP's current and future executives, including Jeremy Burden and Peter 
Matthews, who have transferred their employment from Capital for Colleagues to 
CCAP. Castlefield is the employee-owned holding company of a range of FCA 
regulated financial services businesses, focused on responsible, sustainable 
investing. John Eckersley and Alistair Currie, executive Directors of Capital 
for Colleagues, are also partners of Castlefield. 
 
With the establishment of CCAP, Capital for Colleagues is free to focus on its 
core activity of investing in EOBs. 
 
Commenting on the joint venture, John Eckersley, Chief Executive of Capital for 
Colleagues said: 
 
"Our commitment to Employee Ownership is as strong as ever and this new joint 
venture allows us to focus on our original business proposition - the provision 
of patient capital to EOBs. We will use our capital to drive future growth in 
the EOB sector and to benefit from that growth. Streamlining our operations in 
this way is also in line with our previously stated intention of reducing our 
central overheads." 
 
The Directors of the Company are responsible for the contents of this 
announcement. 
 
                                   **ENDS** 
 
For further information, please visit www.capitalforcolleagues.com or contact: 
 
 
CAPITAL FOR COLLEAGUES PLC                                      0161 464 7538 
Richard Bailey, Chairman 
John Eckersley, Chief Executive 
 
PETERHOUSE CORPORATE FINANCE LIMITED                            020 7469 0930 
Mark Anwyl 
Duncan Vasey 
 
Capital for Colleagues 
 
Capital for Colleagues is an investment company focused on the UK Employee 
Owned Business ('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. 
 
 
 
END 
 

(END) Dow Jones Newswires

November 01, 2017 03:00 ET (07:00 GMT)