REG - Mercia Asset Mgt PLC - Investments into Warwick Acoustics and Axis Spine

Mercia Asset ManagementAnnouncement

13/05/2025 07:00

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RNS Number : 3065I  Mercia Asset Management PLC  13 May 2025

RNS
 
        13 May 2025

 

Mercia Asset Management PLC

 

("Mercia", the "Company" or the "Group")

 

Direct Investments into Warwick Acoustics and Axis Spine

 

Mercia Asset Management PLC (AIM: MERC), the regionally focused, specialist
alternative asset manager with over £1.8billion of assets under management,
is pleased to announce its participation in significant funding rounds for two
of its direct investment portfolio companies, Warwick Acoustics Limited
("Warwick Acoustics") and Axis Spine Technologies Limited ("Axis Spine").

 

These investments reflect the continued commercial progress of both companies
and the potential for their respective technologies. The funding rounds also
underscore their ability to attract third-party co-investors.

 

Warwick Acoustics, which creates audio systems for the automotive and personal
audio markets based on its superior sound quality and low energy technology,
has secured £6.2million in new investment. This includes a direct investment
of £1.0million, with the additional funding coming from Mercia's Northern
VCTs, third-party investors and other existing shareholders. This additional
investment will be used to fit out their new R&D and assembly facility,
together with funding working capital for automotive inventory build.
Following this funding round, Mercia holds a fully diluted 31.7% direct
investment in Warwick Acoustics.

 

Axis Spine, a medical device company specialising in modular spinal implant
systems, has completed a £6.6million funding round. This includes a direct
investment of £2.0million, with additional funding coming from Mercia's
Northern VCTs and EIS managed funds, alongside other third-party investors.
This additional investment will be used to support the company's sales growth.
Following this funding round, Mercia holds a fully diluted 14.5% direct
investment in Axis Spine.

 

Dr. Mark Payton, CEO of Mercia Asset Management PLC, commented: "These follow
on investments into Warwick Acoustics and Axis Spine highlight the continuing
commercial progress and resilience of our direct investment portfolio,
together with the continued appeal of these technology led companies for
growth-focused co-investors. In a challenging macroeconomic environment, the
ongoing co-investor interest in Mercia's direct investment portfolio validates
both their enterprise values and commercial relevance. "

 

Ends

 

For further information, please contact:

 

Mercia Asset Management PLC

Mark Payton, Chief Executive Officer

Martin Glanfield, Chief Financial Officer

www.mercia.co.uk (http://www.mercia.co.uk)
 
+44 (0)330 223 1430

 

Canaccord Genuity Limited (NOMAD and Joint Broker)

Simon Bridges, Andrew Potts, Harry Gooden

+44 (0)20 7523 8000

 

Singer Capital Markets (Joint Broker)

Charles
Leigh-Pemberton
+44 (0)20 7496 3000

 

FTI Consulting

Tom Blackwell, Jenny
Boyd
+44 (0)20 3727 1051

mercia@fticonsulting.com

 

About Mercia Asset Management PLC

Mercia is a proactive, specialist alternative asset manager focused on
supporting regional SMEs to achieve their growth aspirations. Mercia provides
capital across its four asset classes of venture, debt, private equity, and
proprietary capital: the Group's 'Complete Connected Capital'.

 

The Group has a strong UK footprint through its regional offices, university
partnerships, and extensive personal networks, providing it with access to
high-quality deal flow.

 

Mercia Asset Management PLC is quoted on AIM with the EPIC "MERC".

 

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