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.
Duke Royalty has realised half year results and posted a very respectable 78% increase in cash revenue for the period.
Revenue rose to £7.8 million in the six months to 30th September 2021, up from £4.4 million in the same period last year.
Shares in alternative capital provider Duke Royalty (DUKE:AIM) gained 4.5% to 46p after the company reported strong first half growth in revenues and profit and said it was confident of exceeding market expectations for the full year to 31 March 2022.
Royalty capital provider Duke Royalty announced on Thursday that it has completed the follow-on investment of £4.2m into its existing royalty partner Bakhchysarai Ireland (BIL).
Britain’s only listed royalty-finance company chooses its clientele wisely, making it a compelling income play.
A Dublin-based IT contracting and talent acquisition business has been acquired by a group executing a buy and build strategy of companies within the Irish/UK recruitment sector.
Vantage Resources sources specialist IT professionals on medium to long term contracts to a range of major Irish organisations.
The business has been snapped up in the latest acquisition by Bakhchysarai (Ireland) Ltd (BIL), whose capital partners are Duke Royalty and Bank of Ireland.