• Text size      
  • Send this article to a friend
  • Print this article

Better Capital net assets up by 92%

VENTURE firm Better Capital PCC, which recently acquired the debt of coal miner ATH Resources, said its total net asset value has increased by 92%.

In financial results for the six months to September 30, 2012, the business said net assets had grown from £229.4 million to £440.8m.

Earlier this month, a Better Capital fund used a special purpose vehicle to buy the debt of troubled ATH.

ATH, which employs around 300 people with many of its staff at mines in Scotland, is now working with accountancy firm KPMG on a sale or restructuring of the business.

The venture firm has interests in businesses including fashion retailer Jaeger, stationery wholesaler Spicers, luxury boat-maker Fairline and publisher Reader's Digest.

Chairman Richard Crowder said: "The board is of the view that the level of potential deal flow will continue in the short to medium term, and that this will provide appropriate opportunities for the Better Capital Funds to invest selectively in businesses with good prospects for successful turnaround.

"Market conditions for most portfolio companies remain challenging and are predicted to be for some time yet.

"However, the track record of Better Capital investing in and turning around troubled businesses is expected to yield attractive exits."

Contextual targeting label: 
Business

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

127848