4th Jul 2019 12:45
(Alliance News) - Merian Chrysalis Investment Co Ltd on Thursday said it continues to explore a range of further opportunities after making investments in Embark Group Ltd and Growth Street Holdings Ltd.
The investment company said it invested GBP14.9 million as part of a GBP39.4 million funding round conducted by Embark.
Embark is a retirement solutions provider, which trades under the subsidiary brands Embark, Vested, Rowanmoor, EBS, The Adviser Centre, DISCUS and Hornbuckle.
"Embark is a highly-successful and innovative digital business with strong technical expertise, it is already emerging as a pivotal player in this space, and we look forward to working with the business on its next stage of development," said Merian Portfolio Manager Richard Watts.
In addition, the company said it has completed a further investment of GBP7.5 million in Growth Street, by way of a convertible loan note. Subject to regulatory approval of the company as a controlling shareholder, the CLA will convert to preference shares.
"We are delighted to provide additional growth capital that will enable the firm to build out its credit decision system and grow its distribution network,'' said Watts.
Looking ahead, the company said it continues to explore a range of further opportunities.
Merian shares were trading 1.1% lower on Thursday in London at 122.60 pence each.
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