Duke Royalty Ltd – Guernsey-based royalty finance provider – Says it has successfully raised GBP18.5 million in placing of 1.5 million shares at 35 pence each, as well as a further GBP1.5 million through PrimaryBid offer. Placing is conditional on shareholder approval at the extraordinary general meeting on May 26.
Specialist domiciliary care company Tristone Healthcare has expanded with the acquisition of a South West care home operator after securing a £2.3m follow-on investment from Duke Royalty.
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A Manchester IT firm has expanded its reach into the North East with its latest acquisition.
InTec has secured £1.65m follow on investment from Duke Royalty, the Aim-listed provider of royalty finance, to fund its acquisition of Opal IT, an IT managed services business headquartered in Newcastle.
Shares in royalty finance provider Duke Royalty (DUKE:AIM), added 4.5% to 41p following the release of its third quarter trading update which showed a record quarter for deployment and ‘normalised’ cash revenue.
InTec Business Solutions has acquired companies based in Ireland and Scotland, supported by a follow-on investment of £2.45m from Duke Royalty.
Based in Manchester, InTec is an investment holding company created to execute a buy and build strategy of synergistic companies within the IT managed services sector. Last year the busness entered into a £7.7m royalty financing agreement with Duke Royalty.
Investor Duke Royalty has made a further £5.3m investment into a Uttoxeter importer and distributor of motorhome, caravan and camping accessories.
Finance provider Duke Royalty said on Thursday that it had continued to convert its “robust pipeline” in the third quarter, securing two additional partners and completing three follow-on investments into existing partners.
Healthcare provider Tristone has secured a £10.5m investment from Duke Royalty in a partnership that aims to grow the business quickly through acquisitions.