ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

CLDN Caledonia Investments Plc

3,280.00
-5.00 (-0.15%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Caledonia Investments Plc LSE:CLDN London Ordinary Share GB0001639920 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -5.00 -0.15% 3,280.00 3,285.00 3,295.00 3,315.00 3,275.00 3,300.00 120,541 16:35:10
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 183M 142.9M 2.6117 12.62 1.8B

Caledonia Investments PLC Acquisition (5685U)

13/07/2018 7:49am

UK Regulatory


Caledonia Investments (LSE:CLDN)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Caledonia Investments Charts.

TIDMCLDN

RNS Number : 5685U

Caledonia Investments PLC

13 July 2018

CALEDONIA INVESTMENTS ACQUIRES COOKE OPTICS

Caledonia Investments plc ("Caledonia") is pleased to announce that it has acquired a majority stake in Cooke Optics Group Ltd ("Cooke"), the UK manufacturer of premium-end cinematography lenses for the film, television and advertising industries, in a transaction which values the business at GBP96.5m.

Founded as a lens manufacturer in 1886, Cooke has been at the centre of the film making business for over a century. Headquartered in Leicester, it is led by Les Zellan (Chairman), Robert Howard (Chief Executive Officer) and Alan Merrills (Chief Operating Officer) and has some 130 full time employees.

Caledonia has subscribed GBP62.5m of equity and GBP30.0m of debt to acquire approximately 89% of Cooke from its current owners, Growth Capital Partners and Cooke's management team. The management team have reinvested GBP7.8m of their sales proceeds for the remaining equity.

In its most recent audited consolidated accounts, being for its financial year to 30 June 2017, Cooke reported EBITDA of GBP7.7m and profit before tax of GBP2.8m, and at that date had gross assets of GBP33.8m.

Commenting on the acquisition, Duncan Johnson, Caledonia's Head of Unquoted Investments, said:

"We are delighted to have become owners of such an iconic business and brand as Cooke Optics. Its profitability and high cash generation, combined with its strong competitive position in the film making industry globally, makes it ideally suited to Caledonia's unquoted portfolio. We look forward to working with Les Zellan and his team to take advantage of growth opportunities deriving from Cooke's innovation in full-frame camera lens technology, increased demand from China and the expansion of the digital streaming market globally."

Les Zellan, Cooke's Chairman, commented:

"We are delighted to be partnering with Caledonia in the next phase of Cooke's development. Caledonia's reputation as a long term, supportive investor gives us confidence that we can continue building the Cooke legacy derived from over 130 years of supporting the film industry."

13 July 2018

For further information contact:

 
 Caledonia Investments 
  plc                              +44 20 7802 8080 
 Will Wyatt, 
  Chief Executive 
 
  Stephen King, 
  Finance Director 
 
   Duncan Johnson, 
   Head of Unquoted Investments 
 
 Media contact: 
 
 Tulchan Communications            +44 20 7353 4200 
 Peter Hewer 
  Lisa Jarrett-Kerr 
 
 

This announcement contains inside information in relation to Caledonia.

END

Notes for editors:

Caledonia Investments plc

Caledonia is a self-managed investment trust company listed on the London Stock Exchange with net assets of approximately GBP1.9bn as at 30 June 2018. The company maintains a concentrated portfolio of international quoted, unquoted and fund investments and has paid an increasing annual dividend for 51 years.

In the unquoted arena, Caledonia seeks to invest GBP25m to GBP100m in private companies, either on a majority or minority basis, providing a meaningful presence and growth capital supporting double-digit operating margins. Its current unquoted portfolio includes Cobehold (a European unquoted investment house), Seven Investment Management (a provider of discretionary fund management, asset management and self-invest platform services), Buzz Bingo (the UK market leading retail bingo operator), Choice Care Group (a UK learning disability care homes provider) and Liberation Group (the Channel Islands' market leading pub, restaurant and drinks business).

For additional information on Caledonia, please visit www.caledonia.com.

Cooke Optics

Founded in 1886 and based in Leicester, Cooke manufacturers a wide range of lenses suitable for multiple film applications. For over a century, cinematographers have chosen Cooke lenses for the "Cooke Look", a sharp, subtle, smooth rendering that provides dimensionality and high contrast and pleases the eye.

For additional information on Cooke, please visit www.cookeoptics.com.

Transaction

Caledonia's investment in Cooke was led by Chris Hodges, Alex Mills and Theo Tizard.

Travers Smith (Ian Shawyer, Adam Orr) and Alvarez & Marsal (Adrian Balcombe) respectively provided legal and financial due diligence advice to Caledonia. CiL Management Consultants (Tabitha Elwes) provided commercial due diligence advice and Deloitte (Tim Haden) provided tax advice. Wyvern Partners (Mike Barnes) provided debt advice.

PwC (Cara Haffey) and Squire Patton Boggs (Paul Mann) respectively provided corporate finance and legal advice to the vendors.

Neither the contents of Caledonia's nor Cooke's websites, nor the contents of any website accessible from hyperlinks on these websites (or any other website) is incorporated into, or forms part of, this announcement.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

ACQGGUACMUPRUQW

(END) Dow Jones Newswires

July 13, 2018 02:49 ET (06:49 GMT)

1 Year Caledonia Investments Chart

1 Year Caledonia Investments Chart

1 Month Caledonia Investments Chart

1 Month Caledonia Investments Chart

Your Recent History

Delayed Upgrade Clock