Capital for Colleagues plc - Portfolio Update - Employee Owners Group Limited
Announcement provided by
Capital for Colleagues plc · CFCP10/01/2023 07:00
Capital for Colleagues plc / EPIC: CFCP / Market: AQSE / Sector: Financials
10 January 2023
CAPITAL FOR COLLEAGUES PLC
(‘Capital for Colleagues’, ‘C4C’ or the ‘Company’)
PORTFOLIO UPDATE – EMPLOYEE OWNERS GROUP LIMITED
Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Business (‘EOB’) sector, is pleased to announce an update in respect of its investee company, Employee Owners Group Limited (‘EOG’).
EOG was the holding company for a number of businesses operating predominantly under the ‘Carpenter Oak’ brand. Carpenter Oak has been a leading provider of hand-finished oak framed buildings and structures since the late 1980’s, operating from yards in
Agreement has now been reached, with support and advice from C4C, for the formation of a new holding company, Carpenter Oak Group Limited (‘COG’), which will be 51% owned by an Employee Ownership Trust (‘EOT’), with the balance owned by Capital for Colleagues (30%) and management (19%). The EOT, which previously held a 7.5% interest in EOG, has acquired its controlling interest from EOG’s founding shareholders.
Alistair Currie, Chief Executive of Capital for Colleagues, said:
“We are pleased to have assisted Carpenter Oak in its transition to a company with majority employee ownership. The company has also successfully transformed its business focus and, as a significant shareholder in our own right, we look forward to sharing in its future success’.
The Directors of the Company are responsible for the contents of this announcement.
**ENDS**
For further information, please visit www.capitalforcolleagues.com or contact:
CAPITAL FOR COLLEAGUES PLC Richard Bailey, Chairman Alistair Currie, Chief Executive John Lewis, Finance Director |
01985 201 980 |
PETERHOUSE CAPITAL LIMITED Mark Anwyl |
020 7469 0930 |
Capital for Colleagues plc
Capital for Colleagues is an investment company focused on the
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018).
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