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1 March 2018
Marwyn Value Investors Limited (the "Company" or "MVIL")
Safe Harbour Holdings plc announces intention to float
MVIL's investee company, Safe Harbour Holdings plc ("Safe Harbour"), has today announced its intention to float on the AIM market of the London Stock Exchange, raising a further £22.7 million with backing from a number of institutional investors, bringing the total funds raised to date to £32.7 million.
Safe Harbour has been established with the objective of creating value for its investors through the acquisition and subsequent development of assets engaged in the provision of B2B distribution and/or business services. Safe Harbour intends to acquire a platform business with an enterprise value in the region of £250 million to £1.5 billion, in order to create significant shareholder value through a well-executed buy-and-build strategy.
Safe Harbour is led by Rodrigo Mascarenhas in his role of Chief Executive Officer. Rodrigo has 17 years of international business experience, having most recently spent 10 years successfully delivering international growth through acquisitions for the FTSE 100 international distributor and outsourcer, Bunzl plc. Rodrigo will be supported by Avril Palmer-Baunack (Non-Executive Chairman) and the founders of the Marwyn Group1, James Corsellis and Mark Brangstrup Watts (both Executive Directors).
Safe Harbour is in the process of evaluating various platform acquisition opportunities that fit its investment criteria and will provide further information at the appropriate time. The net proceeds of the placing will in part be used to carry out due diligence on potential acquisition targets and provide working capital prior to the platform acquisition.
Funds managed by Marwyn Asset Management Limited have invested £10.0 million in Safe Harbour to date, of which £7.2 million is attributable to the Ordinary shares of MVIL and £1.1 million is attributable to the Realisation shares of MVIL.
Mark Brangstrup Watts commented: "We are delighted to be backing Rodrigo and to see additional support for Safe Harbour's strategy from institutional investors. The listing of Safe Harbour is consistent with our stated strategy of diversifying the portfolio and backing proven management teams in sectors offering significant value creation opportunities."
Company enquiries:
Louisa Bonney / Scott Danks Axio Capital Solutions Limited Telephone: 01534 761240
Henry Freeman / Steve Pearce Liberum Capital Limited Telephone: 020 3100 2200
PR enquiries (MVIL): Alex Child-Villiers / Will Barker Temple Bar Advisory Limited Telephone: 020 7002 1080
PR enquiries (Safe Harbour): Andrew Grant / Tom Murray Tulchan Communications LLP Telephone: 020 7353 4200 |
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Notes to editors:
Marwyn Value Investors Limited is a closed-ended investment company on the London Stock Exchange Specialist Fund Segment - a fully regulated market for professional, institutional and sophisticated investors. Current investments through its underlying funds include BCA Marketplace plc, Zegona Communications plc, Le Chameau Group plc, Gloo Networks plc, Safe Harbour Holdings plc and Wilmcote Holdings plc.
For further information see www.marwynvalue.com
1 Marwyn Group defined as Marwyn Investment Management LLP and entities owned or controlled by it, or under common ownership or control with it