“We are a serious investor in Ireland; we see it as a very attractive opportunity and place for us to do business. We’ve now got a very strong network of both portfolio companies and relationships in the corporate finance community.”
Duke Royalty announced a follow-on investment of around £7.7m into its existing royalty partner, Bakhchysarai Ireland (BIL), on Thursday. It said the new capital would support BIL’s second acquisition, PharmEng, trading as PE Global, which it described as “one of the leading” healthcare and life sciences recruiters in Ireland, with a growing presence in the UK.
Alternative capital provider Duke Royalty announced a follow-on investment of around £7.7m into its existing royalty partner, Bakhchysarai Ireland (BIL), on Thursday.
What a day for a “portfolio update” from Duke Royalty, the “provider of alternative capital solutions”. And just the thing for anyone “working towards financial independence”. Who knew Harry and Meg had already set up an Aim company?
Duke Royalty Ltd said Monday it completed three follow-on investments in December.
There is also quarterly-dividend paying Duke Royalty which lends money to private companies on a long-term basis, typically between 25 and 40 years, in exchange for part of their revenue.
Duke Royalty is unique in the UK, although its royalty model is well known in North America. Duke’s royalty income-based model provides cash generation and an attractive yield. Duke has the finance to grow the business and companies are becoming more aware of the attractions of royalty-based finance rather than bringing in private equity backers or floating on the stockmarket.
In line with its strategy of paying a high and stable dividend, and reflecting the firm’s rapid growth this year, the quarterly payout increased to 0.75p per share for September. This keeps Duke in the top 5% of dividend yielding companies listed on AIM.
Duke Royalty Ltd said Friday its revenue more than doubled during the first half, boosted by investments in royal partners.
The royalty financing company said for six months ended September 30, its revenue jumped to GBP5.9 million from GBP2.7 million in comparable period a year ago.