WhiteRock Capital Partners update

RNS Number : 8530U

Braveheart Investment Group plc

06 December 2013

 



06 December 2013

WhiteRock Capital Partners Update

Braveheart Investment Group plc (the 'Group' or the 'Company'), the AIM-listed investment management group providing debt and equity capital to SMEs and servicing the investment requirements of business angels, high net worth individuals, family offices, and public sector organisations is pleased to announce that the £50million Northern Ireland Growth Loan Fund ('GLF', 'Growth Loan Fund') has, to date, approved 50 loans, totalling in excess of £12million.

WhiteRock Capital Partners LLP ('WCP') was formed to manage the GLF having been established in 2012 by Braveheart Investment Group, Clarendon Fund Managers Ltd and NEL Fund Managers Ltd.

During quarter two of the current financial year, loans have included £1,000,000 to Budget Energy Limited, a low-cost energy provider, £300,000 to Copas Technologies Ltd, a precision engineering company supplying components to the aerospace industry, and a significant investment in Lowden Guitars, manufacturers of hand-crafted acoustic guitars.

WCP recently completed a series of six regional roadshows meeting with over 100 accountants, lawyers, bankers and MLAs (Members of the Northern Ireland Legislative Assembly) to provide an update on the Fund's performance to date and to brief advisers on its SME loan product. 

Further information:

Braveheart Investment Group plc

Geoffrey Thomson, Chief Executive                                                                                       Tel: [phone]

[e-mail]

Sanlam Securities UK Limited (Nominated Adviser and Broker to Braveheart)

Lindsay Mair                                                                                                                                      Tel: [phone]

Catherine Miles

WhiteRock Capital Partners LLP

Paul Millar                                                                                                                                          Tel: [phone]

[e-mail]

Media Enquiries:

Allerton Communications

Peter Curtain                                                                                                                                     Tel: [phone]

[e-mail]

Notes to Editors

Braveheart Investment Group plc

Braveheart provides financing and associated advisory services for small and medium sized enterprises (SMEs) as follows:

For the company looking to raise money, we provide:

·     Equity Capital. This form of financing is typically long term and is usually appropriate for fast growing business or early stage companies. We will consider equity financings where our individual investment, or the investment we arrange, would normally be a maximum of £2m although we are happy to participate in larger financings as part of a syndicate;

·     Debt Finance. Short to medium term and for companies with cash flow to service the loan. Out unit size for this type of finance is up to £1m and we will usually provide junior debt which is unsecured but linked to an equity instrument;

·     Corporate finance advice on all aspects of raising money, strategic development and corporate governance.

The money we invest comes from a variety of sources (see below) and is sometimes linked to particular geographical locations.

To the investor, we provide a one-stop shop service to those in one of the following groups who are looking for exposure to SME investments:

·     High net worth (HNW) individuals looking to build tax efficient Enterprise Investment Scheme (EIS) and Seed EIS portfolios;

·     Family offices and private sector institutions;

·     The Public sector.

Investors can choose between investment types ranging from self-build portfolios, to a full fund management service.

www.braveheartgroup.co.uk

WhiteRock Capital Partners LLP

WhiteRock Capital Partners LLP was established in 2012 by Braveheart Investment Group and consortium partners NEL Fund Managers and Clarendon Fund Managers to manage the Northern Ireland Growth Loan Fund.

The Growth Loan Fund will provide loans, primarily unsecured in nature, of between £50,000 and £500,000 over the next 5 years to Small and Medium Enterprises (SMEs). Loans will be made to businesses that can demonstrate sales and profitability growth or growth potential. The Fund is targeting businesses with export potential which are mainly in the manufacturing, engineering or tradable services sectors.

The Fund is run on a fully commercial basis. Finance for the Fund has been provided by Invest NI (£25m), partly through the European Regional Development Fund, with additional finance provided by the private sector.

www.whiterockcp.co.uk

Growth Loan Fund

Finance for the £50m Growth Loan Fund - which provides mezzanine finance to established Northern Ireland SMEs seeking access to growth finance - has been provided by Invest Northern Ireland and private investor, Northern Ireland Local Government Officer's Superannuation Committee (NILGOSC). WhiteRock Capital Partners LLP has been established to respond to enquiries to the Fund by the consortium of three partners - Strathtay Ventures Limited; NEL Fund Managers and Clarendon Fund Managers, all of which are authorised and regulated by the FCA. Companies seeking funding from the Growth Loan Fund must be based in Northern Ireland, demonstrating growth potential and generally be in the manufacturing, engineering or tradable services sectors. Loan will be typically unsecured and personal guarantees will not be sought. The loans provided are expected to be complementary to existing sources of finance, including banks, trade finance sources and equity investors. Loans are provided on a fully commercial basis, with monthly loan repayments required over typically a five-year term.

 

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