Portfolio Update

RNS Number : 5098W

Caledonia Investments PLC

01 August 2018

 

 

 

SEVEN INVESTMENT MANAGEMENT COMPLETES ACQUISITION OF TCAM

Caledonia Investments plc ("Caledonia") is pleased to announce that its investee company, Seven Investment Management ("7IM"), has completed the acquisition of Tcam Asset Management ("Tcam") on 31 July 2018. As part of the financing of the acquisition, Caledonia has invested a further £14.0m in 7IM.

Tcam is an Edinburgh based discretionary asset manager with approximately £1.2bn of total assets under management ("AuM"). Tcam brings a strong management team and a number of new investment products and services focused on the high net worth client segment. This is in line with 7IM's stated strategy of expanding its product mix and distribution channels.

The enlarged 7IM has £14bn of AuM operating from offices in London, Edinburgh and Jersey.

Tom Sheridan, 7IM's Chief Executive Officer commented:

"Tcam is a fabulous addition to the 7IM family. The Tcam team will augment 7IM's London and Jersey based operations, providing us with a strong base in Edinburgh as well as additional resource and expertise in our investment team."

Duncan Johnson, Caledonia's Head of Unquoted Investments, added:

"The investment in 7IM exemplifies Caledonia's successful, partnership approach to investing, providing the support and follow-on capital required to build incremental sustainable value in our investee companies over the long term."

1 August 2018

For further information contact:

Caledonia Investments plc	[phone]
Duncan Johnson Head of Unquoted Investments
Will Wyatt Chief Executive
Media contact:
Tulchan Communications	[phone]
Peter Hewer
Lisa Jarrett Kerr

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Notes for editors:

Caledonia Investments plc

Caledonia is a self-managed investment trust company listed on the London Stock Exchange with net assets of approximately £1.9bn as at 30 June 2018. The Company maintains a concentrated portfolio of international quoted, unquoted and fund investments and has paid an increasing annual dividend for 51 years.

In the unquoted arena, Caledonia seeks to invest £25m to £100m in private companies, either on a majority or minority basis, providing a meaningful presence and growth capital supporting double-digit operating margins. Its current unquoted portfolio includes Cobehold (a European unquoted investment house), Buzz Bingo (the UK market leading retail bingo operator), Liberation Group (an integrated pubs, drinks and brewing business), Seven Investment Management (a provider of discretionary fund management, asset management and self-invest platform services), Brookshire (a property investment company), Choice Care Group (a UK learning disability care homes provider) and Cooke Optics (the leading cinematic lens manufacturer based in Leicester).

For additional information on Caledonia, please visit www.caledonia.com.

7IM

7IM was founded in 2002 by its current management team and specialises in multi-asset risk-rated investment, which it offers through discretionary fund management, asset management and self-invest services. Post the acquisition of Tcam, 7IM has assets under management and administration of approximately £14bn.

For additional information on 7IM, please visit www.7im.co.uk. 

Neither the contents of Caledonia's nor 7IM's websites, nor the contents of any website accessible from hyperlinks on these websites (or any other website) is incorporated into, or forms part of, this announcement.

 

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