Market debut for investor in UK mutuals
CAPITAL for Colleagues, an investment vehicle that focuses on opportunities in the employee-owned-business (EOB) sector, will today unveil its plans to list on the London-based ISDX growth market and raise more than £2m.
The firm invests in businesses that are owned by their employees, in the same model as department store chain John Lewis.
“Through its proposed listing on ISDX, Capital for Colleagues will offer investors a unique opportunity to gain exposure to a distinct and strongly performing asset class,” said chief executive John Eckersley.
“The company’s clearly defined strategy aims to provide capital and practical assistance to both current and aspiring EOBs, to help them to implement effective and mutually profitable employee ownership arrangements.”
The firm expects to have interests in three EOBs on listing – FJ Holdings, a UK specialist manufacturer, Merkko, a builder’s merchant, and TPS, which distributes products for the public utility market in the UK and Ireland. It plans to invest a total of £600,000 in these three companies.
Peterhouse Corporate Finance is acting as broker to the firm.