Marwyn launches three new investment vehicles – Marwyn Value Investors Limited has announced that three new UK listed acquisition companies, Marwyn Acquisition Company I Limited, Marwyn Acquisition Company II Limited, and Marwyn Acquisition Company III Limited have been admitted to the standard segment of the Official List and to trading on the London Stock Exchange’s Main Market.
The rationale for this is that “The current economic environment in the UK, Europe and North America has created strong demand for investment and innovation to back and develop companies that have the potential to grow through the transformational change taking place across a range of sectors. In order to continue the implementation of its investment strategy, Marwyn has developed an efficient listed acquisition company model that will enable trusted and successful management partners to identify value enhancing opportunities before raising additional capital.” [This is Marwyn’s standard method of operation but we wonder if it might just be piggybacking on the success of the SPAQ listings in the US.]
The new companies currently plan to explore opportunities across the Media & Entertainment, Technology & Software, Consumer E-commerce, Healthcare & Diagnostics and B2B Services. They will “target businesses that are positioned to take advantage of the structural change arising from an unprecedented acceleration of digitalisation, affecting the way people live, work and consume, and the way businesses operate, engage and sell to customers.”
The companies have each been backed by investment from a number of senior executives of previous successful acquisition companies launched by Marwyn. Funds managed by Marwyn have invested £525,000 each for 75% of the ordinary equity plus warrants of each vehicle. Marwyn Value Investors contributed £1,206,230 of that. Additionally, funds managed by the manager have entered into Forward Purchase Agreements with each of the companies to subscribe, on a discretionary basis, up to a further £20m for securities, which may be drawn for working capital, to fund due diligence and/ or as part of future share issuances to finance platform acquisitions.
MVI : Marwyn launches three new investment vehicles