LONDON (ShareCast) - (Sharecast News) - Duke Capital announced a follow-on investment of £3.85m into its existing capital partner, New Path Fire and Security, on Wednesday.
The AIM-traded firm said the infusion would allow New Path to finalise two additional acquisitions, aligning with its growth strategy through acquisitions.

It described New Path as a buy-and-build platform in the fire and security sector, primarily catering to SME clients in and around London and the South of England.

The company's operating subsidiaries were described as well-established businesses with robust reputations in their respective local territories.

Duke said the funds provided would enable New Path to acquire Electrifire and VGI Management, both of which provide fire and security installation and maintenance services to commercial customers.

With the latest investment, Duke's total commitment to New Path reached £10.75m.

The investment terms mirrored Duke's initial support for New Path, featuring a starting yield of 13.5% and an annual revenue adjustment factor of plus or minus 6% concerning payments due.

"We are excited to once again be supporting New Path via the acquisition of two new targets which are complementary to its existing portfolio," said chief executive officer Neil Johnson.

"The two acquisitions will add further scale to New Path's platform and create additional efficiency in the provision of services to its client-base in London and the South of England."

At 1345 BST, Duke Capital shares were down 0.46% at 32.35p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE