REG - Duke Royalty Limited - Follow-On Investment into Existing Royalty Partner

Duke CapitalAnnouncement

26/06/2023 07:00

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RNS Number : 8101D  Duke Royalty Limited  26 June 2023

26 June 2023

 

Duke Royalty Limited

 

("Duke Royalty" or "Duke")

 

Follow-On Investment into Existing Royalty Partner

Duke Royalty, a provider of alternative capital solutions to a diversified
range of profitable and long-established businesses in Europe and North
America, is pleased to announce a follow-on investment of £1.8 million into
existing royalty partner Tristone Healthcare Limited ("Tristone"), to fund its
latest acquisition.

Tristone provides specialist residential, nursing and domiciliary care and
support in two end markets: i) high acuity adults with severe mental, physical
or learning disabilities; and ii) children and young people who require care,
support and specialist education.

 

Highlights:

 

·     Duke's funds will facilitate Tristone's acquisition of South West
Intervention Services Limited, trading as SWIS, a provider of bespoke learning
packages to young people who may be at risk of exclusion from education, in
Buckfastleigh, near Plymouth

·     The financing increases Duke's total investment in Tristone to
£19.4 million. The investment terms are the same as Duke's previous follow-on
investment into Tristone, including a starting yield of 13.5% and a +/- 6%
annual revenue adjustment factor in respect of royalty payments due

·     SWIS represents Tristone's fourth acquisition supported by Duke, in
line with Tristone's stated buy & build strategy

 

Neil Johnson, CEO of Duke Royalty, said:

"I'm excited to see Tristone further strengthen its position in the social
care sector via the acquisition of SWIS. Given the outstanding level of care
that they provide, SWIS is a natural fit for Tristone, and will also add new
specialisms to Tristone's expanding portfolio."

Further information regarding SWIS

SWIS provides bespoke learning packages to young people who may be at risk of
exclusion from education, as well as a variety of support services for
vulnerable children and young people. These include intervention, emergency
crisis, family support, supervised contact, and enabling activities. All
services are managed from a central office in Buckfastleigh, Devon, the
central office also houses the main Alternative Education Provision.

SWIS provides bespoke packages of Education to young people excluded from
mainstream Education and the wider Community, as well as Support Services in
various forms such as a diverse care offering targeted towards vulnerable
children and young people for behavioural management and circumstances of
crises or abuse. The service currently has 120 young people on role, up to 25
years of age. SWIS has a staff team of 35 individuals who span across all
service offerings supporting all 120 young people.

Duke Royalty Portfolio

A full list of Duke's current Royalty Partners are now included for reference
on the Partners page of our website: www.dukeroyalty.com/partners
(http://www.dukeroyalty.com/partners)

 

 

***ENDS***

 

 

For further information, please visit www.dukeroyalty.com
(http://www.dukeroyalty.com) or contact:

 

 

 Duke Royalty Limited     Neil Johnson / Charles Cannon Brookes / Hugo Evans  +44 (0) 1481 231 816

 Cenkos Securities plc    Stephen Keys / Callum Davidson / Michael Johnson    +44 (0) 207 397 8900

 (Nominated Adviser

 and Joint Broker)

 Canaccord Genuity        Adam James / Harry Rees                             +44 (0) 207 523 8000

 (Joint Broker)

 SEC Newgate (PR)         Elisabeth Cowell / Alice Cho / Matthew Elliott      +44 (0) 20 3757 6882 dukeroyalty@secnewgate.co.uk

 

 

About Duke Royalty

 

Duke Royalty Limited provides alternative capital solutions to a diversified
range of profitable and long-established businesses in Europe and abroad.
Duke Royalty's experienced team provide financing solutions to private
companies that are in need of capital but whose owners wish to maintain equity
control of their business. Duke Royalty's royalty investments are intended to
provide robust, stable, long term returns to its shareholders. Duke Royalty is
listed on the AIM market under the ticker DUKE and is headquartered
in Guernsey.

 

 

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