REG - Caledonia Investmnts - Disposal

Caledonia InvestmentsAnnouncement

18/01/2024 12:00

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RNS Number : 1694A  Caledonia Investments PLC  18 January 2024

 

 

CALEDONIA INVESTMENTS PLC

 

CALEDONIA PRIVATE CAPITAL COMPLETES ITS DIVESTMENT OF 7IM

 

On 5 September 2023 Caledonia Investments plc ("Caledonia") announced (under
RNS number 3620L) that it had agreed terms for the sale of its majority stake
in Seven Investment Management ("7IM"), a vertically integrated retail wealth
management business, to Ontario Teachers' Pension Plan Board ("Ontario
Teachers"), a global investor with approximately C$250 billion in net
assets.

 

The transaction was subject to change in control approval by the Financial
Conduct Authority and was expected to complete in late 2023 or early 2024.
Caledonia is pleased to announce that this approval has now been received and
accordingly the transaction has been completed. Caledonia's final cash
proceeds were £256m.

 

18 January 2024

 

For further information contact:

 

 Company contacts

 Caledonia Investments plc  +44 20 7802 8080
 Mat Masters

 Chief Executive Officer

 Rob Memmott

 Chief Financial Officer

 Tom Leader

 Head of Private Capital

 Media contacts

 Teneo                      +44 20 7353 4200
 Tom Murray

 Robert Yates

 caledonia@teneo.com

 

END

 

Notes for editors:

 

Caledonia Investments plc

Caledonia is a self-managed investment trust company. Our aim is to grow net
assets and dividends paid to shareholders, whilst managing risk to avoid the
permanent loss of capital. This is achieved by investing in proven,
well-managed businesses that combine long-term growth characteristics with an
ability to deliver increasing levels of income. We hold investments in both
listed and private markets, covering a range of sectors and, particularly
through our listed and fund investments, have a global reach.

 

In the Private Capital arena, Caledonia typically seeks to invest £50m to
£150m in private companies, either on a majority or minority basis, where
Caledonia provides enduring capital and support to investee company management
teams over the longer term.  The Caledonia Private Capital portfolio includes
Stonehage Fleming (a multi-family office providing fiduciary and investment
management services to UHNW clients and families), Cobehold (the holding
company of Cobepa, a European unquoted investment house), Cooke Optics (a UK
manufacturer of premium cinematography lenses), Liberation Group (a pub,
restaurant and drinks business with a pub estate stretching from Southwest
London to Bristol and the Channel Islands) and AIR-serv Europe (a leading
designer and manufacturer of air, vacuum and jet wash machines provided as
turn-key solutions to fuel station forecourt operators).

 

For additional information on Caledonia Private Capital, please visit
www.caledoniaprivatecapital.com (http://www.caledoniaprivatecapital.com) and
for Caledonia please visit www.caledonia.com (http://www.caledonia.com) .

 

7IM

7IM provides wealth management, asset management and platform services to over
9,000 retail investors and over 2,000 intermediaries in the UK. At the core of
its business is a proprietary investment platform which provides award-winning
service and functionality to financial advisers, alongside a multi-asset
investment management function that aims to provide low-volatility, low-cost
returns utilising both active and passive strategies. When Caledonia acquired
the business in September 2015, 7IM had assets under management (AUM) of £9.5
billion. Today, 7IM has circa £21 billion AUM.

 

For additional information on 7IM, please visit www.7im.co.uk.

 

Neither the contents of Caledonia's nor 7IM'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.

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