Lindsays is delighted to have advised Capital for Colleagues plc (C4C), the UK’s leading investor in employee owned companies, in completing two transactions in just 11 days in August 2021.
C4C converted its existing A share investment into new ordinary shares valued at £1,750,000 in Bright Ascension Limited alongside additional funding from new investors of £1,000,000. Bright Ascension is an industry-leading space software technology provider that offers unique off-the-shelf software products and solutions for the delivery of space-based services, both on spacecraft and on the ground.
This was quickly followed by C4C investing £800,000 in Craft Prospect Ltd, a space engineering business that develops enabling quantum and AI-based products and mission applications for the small satellite market.
Douglas Roberts, a Partner in the Corporate Team and who leads the Employee Ownership Team at Lindsays said: “It was a privilege to act for C4C in completing these two investments in quick succession in August. It is brilliant to see more businesses in Scotland move towards employee ownership with C4C playing a key role.
“Funding is often an issue for employee owned businesses due to the focus on employees, something which C4C both understands and encourages. We look forward to working with C4C in the future.”.
Alistair Currie, Chief Executive of C4C, said: “It was great to work with Douglas Roberts again in completing the transactions in Bright Ascension and Craft Prospect. Scotland has become a heartland for employee ownership in the UK and our investments in Bright Ascension and Craft Prospect show that there are some great employee-owned businesses in Scotland.”
Douglas has previously advised Capital for Colleagues on two other investments in Scotland. He has also assisted more than 15 companies on the legal aspects of transitioning to employee ownership over the last four years. There are currently just over 100 employee owned companies based in Scotland with 30 more forecast to make the switch this year - twice as many as did so during 2020.
