07:00 Mon 19 Oct 2020
Mercia Asset Mgt PLC - Successful exit of Clear Review
RNS |
19 October 2020 |
Mercia Asset Management PLC
("Mercia" the "Company" or the "Group")
Successful exit of Clear Review delivering a 72% IRR
Mercia Asset Management PLC (AIM: MERC), the proactive regionally focused specialist asset manager with c.
Mercia held a 4.0% fully diluted direct holding in Clear Review at the date of sale and will receive cash proceeds of
The company, which was first backed by Mercia's managed funds in 2018 and became a direct investment in
Clear Review, which was founded by
Dr
"The team at Clear Review has achieved great things in a relatively short period of time and I am confident that under their new custodian they will continue to disrupt the HR SaaS sector.
"This sale process has been handled entirely virtually, which is testament to our team's effectiveness in transacting deals even during these complex times."
-Ends-
For further information, please contact:
Mercia Asset Management PLC Mark Payton, Chief Executive Officer
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+44 (0)330 223 1430
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Canaccord Genuity Limited (NOMAD and Joint Broker) |
+44 (0)20 7523 8000 |
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N+1 Singer (Joint Broker) |
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+44 (0)20 7496 3000 |
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FTI Consulting
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+44 (0)20 3727 1051 |
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About Mercia Asset Management PLC:
Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity and debt capital: the Group's 'Complete Connected Capital'. The Group initially nurtures businesses via its third-party funds under management, then over time Mercia can provide further funding to the most promising companies, by deploying direct investment follow-on capital from its own balance sheet.
The Group has a strong
Mercia Asset Management PLC is quoted on AIM with the EPIC "MERC".
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