Further investment in Chargemaster Plc

RNS Number : 7708O

Braveheart Investment Group plc

23 September 2011

 



23 September 2011

Braveheart Investment Group plc

("Braveheart" or the "Group")

Further investment in Chargemaster Plc

Braveheart (AIM: BRH), the AIM-listed specialist in growth capital investments for business angels, high net worth individuals and family offices,  announces that Envestors Limited, its wholly owned subsidiary, has closed a £2.7 million equity fundraising for Chargemaster Plc, the provider of innovative products enabling the practical day-to-day use of electric vehicles. Envestors raised £1.98 million of the total from its network of high net worth investors and family offices, and acted as corporate finance adviser to Chargemaster.

The funds will be used by Chargemaster to finance the rollout of POLAR, its network of vehicle charging bays. Some 4,000 sites are planned over 18 months to serve 100 major towns and cities throughout the UK. POLAR sites are currently being installed, initially across the South of England. Envestors previously led an £1.5 million equity financing of Chargemaster, in December 2010.

Chargemaster's team has more than 25 years' experience of developing and managing telematics and motoring orientated infrastructures. With annual revenues of £3.5 million, the company is experiencing demand as motor manufacturers develop electric cars and plug in hybrids. The company's charging posts include single, dual and fast charge solutions, and units for home use.

Scott Haughton, Director of Envestors, said: "In a tough market for growing companies, members of our network were impressed by the Chargemaster team's experience and the progress made from a standing start."

"Envestors has again done a highly effective job for us," said David Martell, Chief Executive of Chargemaster Plc, who previously founded Trafficmaster Plc.

For further information please visit www.braveheartinvestmentgroup.co.uk, www.envestors.co.uk or www.chargemasterplc.com or contact:

Braveheart Investment Group plc:

Geoffrey Thomson, Chief Executive [e-mail]

Tel: [phone]

Seymour Pierce Limited:

John Cowie / Freddy Crossley (Nominated Adviser) Paul Jewell, Marianne Woods, David Banks (Corporate Broking)

Tel: [phone]

Envestors Limited:

Scott Haughton, Director [e-mail]

Tel: [phone]

Chargemaster Plc:

David Martell, Chief Executive [e-mail]

Tel:  [phone]

Media enquiries (for Braveheart)

Allerton Communications:

Peter Curtain [e-mail]

Tel: [phone]

Notes to Editors

Braveheart Investment Group makes and manages investments in young, emerging British companies, specialising in building tax efficient portfolios for business angels, high net worth individuals and family offices. Braveheart was founded in 1997 by a small group of investors to encourage and syndicate investments in privately held companies that offered opportunities for significant growth. Fourteen years on, Braveheart is a public company with a demonstrable track record in technology investing, an established client base and various funds under management.  The Group has offices in Perth, London, Yorkshire and Jersey with franchise operations in Dubai and Manchester.

Investments are made in unlisted companies where there is potential for significant growth through successful commercialisation of IP. Through close relationships with leading universities and innovation centres, Braveheart has access to a wide variety of emerging commercial opportunities at early stages. There are currently some 39 companies in Braveheart's diverse portfolio (includes all companies where the Group has a financial interest) and it has completed more than 100 deals.

Following the 2010 acquisition of Envestors Limited, the London based specialist corporate finance advisory business, Braveheart offers a unique and comprehensive suite of tax efficient products to high net worth investors.

 

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