REG - Aquila Services Grp - Corporate Investment Update

Aquila ServicesAnnouncement

05/04/2018 07:05

RNS Number : 8751J
Aquila Services Group PLC
05 April 2018
 

For immediate release
5 April 2018
Aquila Services Group plc
("Aquila", the "Company" or together with its subsidiaries, the "Group")
Corporate Investment Update
 
Aquila, a company formed to acquire and operate growing businesses operating in the affordable housing services sector, announces the expansion of its consultancy support services with investments in 3C Consultants Ltd ("3C"), one of the largest providers of IT consultancy to the UK social housing sector, and AssetCore Limited ("AssetCore"), a platform for storing and managing loan security information with links to lenders, legal advisors and security trustees.
 
Aquila's growth strategy is for a one-stop-shop aiming to meet all the high level professional support its housing sector clients require.  These two investments recognise the increasing importance of IT in driving efficiencies in financial and service performance.
 
Investment in 3C
 
Aquila has invested £154,000 taking a 25% stake in 3C.  As part of the investment, Steve Douglas, Co-Chief Executive of Aquila, has joined the board of 3C as a non-executive director and 3C's wide range of IT services are available to the Group's clients and these include:
 
·    IT service review
·    ICT strategy development
·    Application and infrastructure review and specification
·    Business case and policy development
·    Business process mapping and re-engineering (including Digital Engagement)
·    Data extraction, assessment, management and reporting
·    Data protection policy, review and training
·    Project management and assurance
·    Achieving social value and SROI (Social Return On Investment)
·    Digital Transformation
·    Interim roles such as Head or Director of ICT
 
Investment in AssetCore
 
Aquila has invested £120,000 as part of a  new £500,000 fundraising and £75,000 refinancing of existing equity taking an 8% stake in AssetCore, a fintech company that has developed a cloud based platform to enable affordable housing organisations to better manage their property security information. As part of the investment, Derek Joseph, the Company's Chairman, has joined the AssetCore board as chairman. The Group will benefit from access for its clients to the AssetCore platform, which by creating paperless trails of information and direct access to the data, reduces delays, contains legal fees and administration costs and generates better reports. 
 
Derek Joseph, the Company's Chairman commented:
 
"These are exciting investments building on our offer to clients, many of whom are looking at digital transformation; better management of their data; and ensuring their IT systems and controls are fit for the future.  The work of 3C will complement our offer by providing digital and ICT strategy support; strategic data management; GDPR compliance; and programme management; encouraging innovative IT solutions for the housing sector.  The investment in AssetCore will take forward efficient and timely solutions for loan security information management."
 
 
For further information please visit www.aquilaservicesgroup.co.uk or contact:
 
Aquila Services Group plc
Steve Douglas
Co-Chief Executive
Tel: 020 7934 0175
 
Beaumont Cornish Limited, Financial Adviser
Roland Cornish
Tel: 020 7628 3396
 
 
Notes to editors:
 
About Aquila Services Group plc
 
Aquila is the parent company of Altair Consultancy & Advisory Services Ltd ("Altair") and Aquila Treasury and Financial Solutions Ltd ("ATFS").  Aquila's shares are quoted on the main market of the London Stock Exchange reflecting its growth ambitions.  The group is dedicated to providing high level professional support services to the affordable housing sector and has recently enhanced its development programme capabilities through the acquisition of Pod development consultancy.
 
About Altair Consultancy & Advisory Services Ltd
 
Altair is a specialist housing consultancy providing a range of professional services for affordable housing providers in the UK.  Services include support on governance structures and performance, operational management services, strategy and change, development programme management, as well as a range of financial forecasting tools.  Altair, since its inception over 7 years' ago, has worked for nearly all major housing associations, housing enabled local authorities, government departments interested in housing, as well as regional governments, property developers and housing charities.
 
About Aquila Treasury & Financial Solutions Ltd
 
ATFS is a treasury consultancy authorised by the FCA and provides advice on treasury strategy, sourcing new funding arrangements and renegotiating existing arrangements.  Its clients rely on the consultants to provide advice and initiatives that are well researched and established and to understand the need to ensure effective risk control.  ATFS consultants have raised over £3bn in funding for the sector.
 



This information is provided by RNS
The company news service from the London Stock Exchange
 
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