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Chelverton Investor Club completes second investment

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Chelverton Asset Management (CAM) has completed the acquisition of Electrobase RP Limited for GBP3.9 million, its second transaction since the launch last year of its Investor Club proposition. 

Chelverton Investor Club has raised GBP2m of equity from its high net worth membership towards the transaction, together with an institutional investor partner which it introduced to the transaction – Chrysalis VCT PLC. 
 
Supporting debt finance was provided by Santander.
 
Electrobase is an engineering firm undertaking precision sheet metal work, using the latest computerised technology alongside its particular specialism, aluminium salt bath dip brazing.  The company is one of only a handful of businesses in the UK employing this metal forming process and provides contract services to blue-chip firms in the telecommunications, electronics, defence, specialist automotive and aerospace industries.
 
CAM’s investment director David Hart, who led the transaction for Chelverton and who will join the board of Electrobase, says: “We worked with Tim Harrison to source this investment off-market, gaining the confidence of the current management team, who will all remain with the business going forward and are re-investing.  The combination of their expertise in the very niche dip brazing application, allied to Tim’s contacts and sales and marketing experience provided a compelling proposition for our investors.”

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