Reorganisation of Yorkshire businesses

RNS Number : 1722C

Braveheart Investment Group plc

12 April 2013

 



12 April 2013

Braveheart Investment Group plc

('Braveheart', the 'Company' or the 'Group')

Reorganisation of Yorkshire businesses

Braveheart Investment Group plc (BRH), the AIM-listed investment management group providing debt/equity and advisory services to SMEs and servicing the investment requirements of business angels, high net worth individuals, family offices and public sector organisations, announces the reorganisation of its Yorkshire businesses.

On 31 March 2013 Braveheart's wholly-owned subsidiary Neon Capital Partners Limited ('Neon'), the manager of the Finance Yorkshire Equity Fund, acquired the fund management business of its sister company, Viking Fund Managers Limited ('VFM') and thereafter changed its name to Viking Fund Managers Limited, with effect from 11 April 2013.

Geoffrey Thomson, Chief Executive of Braveheart, commented: "In the twelve months since the Group acquired Neon we have invested in a good team to deliver Neon's fund management operations in Yorkshire and it was a natural decision to bring together our two Yorkshire fund managers. Viking Fund Managers has a proud history of supporting businesses in Yorkshire and is the brand that we have chosen to continue to operate under, in the region."

Additionally, as of 1 April 2013, Braveheart's wholly-owned subsidiary Envestors Limited has acquired the rights to operate the Yorkshire Association of Business Angels ('YABA') from Yorkshire Association of Business Angels Limited and will combine this with the YABA secretariat, previously operated by VFM.

Scott Haughton, a director of Envestors, said: "YABA has been adapting its business model to develop its longer term sustainability. Envestors is ideally placed to power the growth and sophistication of YABA with increased deal flow and syndication opportunities for its members alongside Envestors' extensive private investor network."

Further information:

Braveheart Investment Group plc

Geoffrey Thomson, Chief Executive [e-mail]

Tel: [phone]

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

Lindsay Mair Catherine Miles

Tel: [phone]

Media enquiries:

Allerton Communications

Peter Curtain [e-mail]

Tel: [phone]

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 businesses 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.  Our unit size for this type of finance is up £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.

 

END

 

 

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