23 Apr 2018 07:00
MXC Capital Limited
("MXC" or the "Company")
First Investment into Joint Venture with Liberty Global
MXC (AIM: MXCP), the technology focused adviser and investor, is pleased to announce that it has made its first investment into MXLG Acquisitions Limited ("MXLG"), its joint venture with Liberty Global Europe 2 Limited ("LGE2") (a wholly owned subsidiary of Liberty Global plc ("Liberty Global")).
This investment has enabled MXLG to complete its first acquisition, SICL Limited ("SICL"), a Leeds based, award winning IT infrastructure and network specialist providing a range of on-premises, cloud and hybrid technological solutions and services to its customer base (the "Acquisition").
MXC, together with a co-investor, have each made an equity investment of £2.35 million into MXC JV Limited ("MXCJV") to part fund the Acquisition (the "Investment").
Following the Investment, MXC holds 100% of the voting rights of MXCJV and owns 50% of its issued share capital. MXCJV holds 50% of the issued share capital of MXLG with LGE2 owning the remaining 50%.
Ian Smith, CEO of MXC, commented:
"I am pleased to be able to announce the first acquisition by our joint venture with Liberty Global. SICL represents the first step in MXLG's strategy of building an IT services provider focused on small and medium sized business customers within the UK. We are excited to have commenced this journey".
MXC Capital Limited
Ian Smith
+44(0)20 7965 8149
Zeus Capital Limited (Nominated adviser and broker)
Giles Balleny / Nick How
+44 (0)20 3829 5000
About MXC Capital Limited www.mxccapital.com
MXC is a specialist technology adviser and investor with a track record of investing in and advising companies in the TMT sector. MXC brings together a deep knowledge of technology, first-hand experience of managing companies in the sector, an ability to make meaningful investments and a highly experienced corporate advisory team in support, all of which combine to grow shareholder value.
About Liberty Global plc www.libertyglobal.com
Liberty Global is the world's largest international TV and broadband company, with operations in 12 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. We invest in the infrastructure and digital platforms that empower our customers to make the most of the video, internet and communications revolution. Our substantial scale and commitment to innovation enable us to develop market-leading products delivered through next-generation networks that connect 22 million customers subscribing to 46 million TV, broadband internet and telephony services. We also serve over 6 million mobile subscribers and offer WiFi service through 10 million access points across our footprint.
In addition, Liberty Global owns 50% of VodafoneZiggo, a joint venture in the Netherlands with 4 million customers subscribing to 10 million fixed-line and 5 million mobile services, as well as significant content investments in ITV, All3Media, LionsGate, the Formula E racing series and several regional sports networks.