9th Jan 2017 10:07
LONDON (Alliance News) - Braveheart Investment Group PLC on Monday said it has made a strategic investment in Gyrometrics Systems Ltd.
Braveheart said it has acquired a 47% holding in Gyrometric, a Nottingham Trent University spin-out which provides monitoring technology for drive shafts.
Gyrometric has established sales partners in Germany and Asia and expects to break-even financially in 2017, said Braveheart, which did not disclose the financial details of the investment.
Braveheart also noted its wholly-owned subsidiary Viking Fund Managers Ltd has been awarded an additional GBP2.0 million in capital to invest via its UK government and European Union-supported Finance Yorkshire Equity Fund contract.
The company added that its performance has "continued strongly" in the third quarter of its financial year, after reporting a post-tax profit of GBP475,000 for the six months to September 30, 2016.
Shares in Braveheart Investment were up 7.2% at 12.60 pence Monday.
By Adam Clark; [email protected]
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