Completion of New Investment

RNS Number : 1615A

British Smaller Companies VCT PLC

18 December 2014

 



British Smaller Companies VCT plc ("the Company")

Completion of a new investment

The Company announces it completed an investment on 15 December 2014 of £1.08 million to support the management buy-out of Wakefield Acoustics Limited ("Wakefield Acoustics"), a leader in the design, manufacture and installation throughout the world of a wide range of bespoke industrial and environmental noise control solutions. Wakefield Acoustics has recorded consistent growth over recent years establishing a strong market position with leading blue chip engineering companies supplying globally into sectors such as power, oil & gas, water, waste and general manufacturing. The funding will support Wakefield Acoustics' ambitious growth plans which include consolidation of its existing manufacturing facilities into one facility in 2015. The new company created to acquire Wakefield Acoustics is called Malvar Engineering Limited. For more information on the business please see www.wakefieldacoustics.co.uk.

This brings the aggregate portfolio investment during the first nine months of the current financial year into both new and existing companies to £16.80 million.

18 December 2014

For further information, please contact:

David Hall                                  YFM Equity Partners Limited      Tel:  [phone]

Gillian Martin / Emily Watts        Nplus1 Singer Advisory LLP        Tel:  [phone]

 

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