Kelso Group Holdings PLC Investment in NCC Group Plc (4818P)
10 Oktober 2023 - 8:00AM
UK Regulatory
TIDMKLSO
RNS Number : 4818P
Kelso Group Holdings PLC
10 October 2023
Kelso Group Holdings Plc ("Kelso")
Investment in NCC Group Plc ("NCC")
Kelso, the main market listed investment company, announces that
it has made an investment in NCC (LSE:NCC), having purchased 1.0
million ordinary shares at an average price of 108p, representing
0.3% of the issued share capital of NCC.
NCC is a London listed company, with a market capitalisation of
GBP347 million, with two divisions, Software Relience (Escrow) and
Assurance (Cyber Security). Operating across Europe, North America
and Asia Pacific, employing c.2,000 people, the group for the year
ended 31 May 2023 had unaudited revenue of GBP335.1 million and
Adjusted EBITDA of GBP41.4 million.
Software Reliance (Escrow), is a Global leader, providing
software escrow services to businesses, protecting the development,
supply and use of business-critical technology and software
applications, with unaudited revenue for the year to 31 May 2023 of
GBP64.3 million . Assurance (Cyber Security) operates in the global
cyber security market, which expects CAGR of 10% between 2022 and
2027, as the global cyber threat continues to grow. The business
provides cyber security consultancy services as well as managed
services to businesses, which includes continuous detection and
response and other cyber services, on a contract model, with
unaudited revenue for the year ended 31 May 2023 of GBP270.8
million.
Having previously initiated a strategic review of Software
Resilience (Escrow), on 22 June 2023, as part of the post-close
trading and strategic update, NNC announced that it had stopped the
strategic review of the Software Resilience (Escrow) business and
will revisit this later in the calendar year.
As NCC highlights, the two businesses are operationally distinct
and have no synergies as part of the same group.
John Goold, CEO of Kelso, said:
"NCC is a special company on the UK stock market with two
distinct businesses. There is an experienced management team
assembled and we support them to deliver shareholder value."
For further information please contact:
Kelso Group Holdings plc +44 (0) 75 4033 3933
John Goold, Chief Executive Officer
Mark Kirkland, Chief Financial Officer
Jamie Brooke, Chief Investment Officer
About Kelso
Kelso was established in 2022 to identify, engage and unlock
trapped value in the UK stock market. Kelso's strategy is to invest
in situations where there is an anomaly between the intrinsic value
and prospects of a company and its stock market valuation. Kelso
will, in particular, look for situations where it believes the sum
of the parts of a business is greater than the current value.
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END
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