Duke Capital Increases Investment in New Path Fire and Security

Why we think this is neutral

This RNS announcement is a general update on Duke Capital's follow-on investment into its existing capital partner, New Path Fire and Security Limited. It does not contain any of the mandatory news types that would require a more detailed analysis.

Key Points

Duke Capital is making a £3.3m follow-on investment into existing portfolio company New Path Fire and Security
The investment will enable New Path to acquire Elite Entrance Systems Ltd
Duke's total credit financing in New Path increases to £14.30 million
Duke's equity stake in New Path will increase from 15.0% to 20.9%

Summary

The private equity firm is making a £3.3m follow-on investment into its existing portfolio company, enabling further acquisitions.

Duke Capital Limited (AIM: DUKE), a provider of hybrid capital solutions for SME businesses, has announced a £3.3m follow-on investment into its existing capital partner, New Path Fire and Security Limited. This investment will allow New Path to complete the acquisition of Elite Entrance Systems Ltd, a specialist in automatic door systems. The financing increases Duke's total credit financing in New Path to £14.30 million, and Duke will also increase its equity stake from 15.0% to 20.9%.

GENERAL UPDATE