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Finance For Companies

New 50m euro SME Fund for Ireland

09 April 2014 15:41

FOR IMMEDIATE RELEASE

Press Release, 9th April 2014

New €50m SME Fund for Ireland to be launched

The New Gresham Capital Group (“NGC”) has pleasure in announcing its intention to launch a new €50m fund to support the development of SMEs in Ireland.

The Fund will finance established and entrepreneurial SMEs led by proven management teams and will invest across a broad range of industries, with no sectorial bias
NGC is targeting an initial fund of €50 million and expects to make individual investments in the range of €300,000 to €2.5 million. The Fund will have a life of 10 years and is mezzanine in structure and so will make its return through a combination of debt and equity.

NGC is working with Appian Asset Management as its partner in Ireland who will provide the necessary regulatory support and advice.

The fund adviser, New Gresham Capital Ltd, will work closely with its sister company Finance for Companies (Ireland) Ltd (www.finance4companies.com) which is building a network of investment professionals in Ireland focussed on finding both funding and human capital solutions for SMEs.
Minister for Jobs, Enterprise and Innovation, Richard Bruton TD. says: “It is yet another welcome sign of the increasing confidence of the international financial markets in the Irish recovery that New Gresham Capital Group is planning a €50m fund targeting SME support and development in Ireland. The SME sector is a vital component of the recovery of the Irish economy and this new Fund can play an important role in supporting even more new jobs in dynamic smaller companies across the country.”
Peter Hewitt, Chairman and founder of NGC says: “I am absolutely thrilled that we are now in a position to progress our new SME fund for Ireland and to engage further with potential investors and partners. This fund will make a significant difference in a key sector of the Irish economy and in turn help to build our presence in Ireland as a leading provider of SME finance.”
Steve Aiken, CEO of the British Irish Chamber of Commerce says: “The Chamber is extremely supportive of The New Gresham Capital Group in establishing this important SME fund which deserves every assistances from the Irish community.”


Economic Background
There are approximately 300,0001 SMEs throughout Ireland; they are a major source of employment and are expected to be a significant source of economic growth in the region as the economy improves.
Many of these companies have high growth aspirations but are facing difficulties in accessing capital to support their plans. NGC believes that it is creating an opportunity to support this sector alongside the established lending banks and other new entrants to the market.

About the Fund and The New Gresham Capital Group
The Fund will be regulated with Appian Asset Management Ltd acting as Investment Manager and with New Gresham Capital acting as investment adviser.
The New Gresham Capital Group of Companies was established in order to produce a solution for SME finance in both Ireland and the UK and comprises several specialised subsidiaries.
Finance For Companies (Ireland) is a subsidiary of The New Gresham Capital Group and has a network of former bankers and corporate financiers in key locations in Ireland and operates closely with its international sister company Premier Non Executives Ltd (www.premiernonexecutives.com) which provides where necessary, skilled directors and corporate personnel.
Appian Asset Management Limited is an Irish owned and managed, independent investment manager. Founded in 2003, Appian provides discretionary and advisory asset management services to individual and corporate clients. Appian is authorised as an Alternative Investment Fund Manager.
The Fund will achieve its return through investing in a combination of sub-ordinated debt and minority equity interests in investee companies. The debt will typically be non-amortising with a 3 – 5 year term. The Fund expects to work closely with established lending banks and act as a supportive minority investor of the management teams that it backs.

Contacts:
UK - Dermot McKechnie, CEO, The New Gresham Capital Group Ltd: dermot.mckechnie@finance4companies.com. Tel: + (44) (0) 7767 664167

UK - Peter Hewitt, Chairman, The New Gresham Capital Group Ltd:
peter.hewitt@finance4companies.com. Tel: + (44) (0) 7710 908816

Ireland - Peter Greene, CEO, Finance4Companies (Ireland) Ltd: peter.greene@finance4companies.com. Tel: + (353) (0) 868316878



Notes

1. The EU definition of SMEs is summarised as follows:

Employees Turnover Balance sheet value
Micro <=10 <=€2m <=€2m
Small <=50 <=€10m <=€10m
Medium <=250 <=€50m <=€43m

There are approximately 300,000 SMEs in Ireland of which approximately 24,000 are classified as Small or Medium sized. SMEs employ approximately 1.4 million or 70% of the total work force (Source: Ireland- CSO; Northern Ireland- BIS UK).


Regulatory Noti

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About Finance For Companies

F4C is a specialist in raising finance for SMEs. The F4C team has a vast amount of experience as both professional advisors raising finance for SMEs as well as being SME directors ourselves. We have therefore experienced both sides of the equation - the heartache and anxiety of trying to raise funds and running the business at the same time.

We at F4C make the whole process so much simpler - we will help you with your business and raise any necessary funding using our team of highly skilled business advisors who are located throughout the UK and Ireland.

We also have a number of sector experts within the team from material and nuclear sciences to IT, telecomms, medical, property and many more who are available to help with specific expertise.

www.finance4companies.com

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