LONDON, UK: Capital for Colleagues Plc, the funding vehicle focused on alternatives within the Employee Owned Business (‘EOB’) sector, has acquired the entire issued share capital of MI Accountancy Solutions Limited (MIA).
MI Accountancy Solutions Limited (MIA) is a Staffordshire based accountancy agency which offers a vary of accounting services, principally the preparation of administration accounts.
MIA already provides accounting services to a variety of C4C’s investee companies, and the Directors believe that, by bringing these services in house, Capital for Colleagues will be able to cost-effectively broaden the support and recommendation it offers all EOBs, while on the identical time strengthening relationships with existing investee companies.
Capital for Colleagues Plc has acquired MIA for an efficient consideration of £95,000 in cash, satisfied from the Company’s existing resources. Deferred consideration of as much as £20,000 could also be payable, relying on the post-acquisition efficiency of MIA.
Alistair Currie, Chief Executive of Capital for Colleagues, said: ‘We are delighted to welcome Sophie and the MIA team to C4C. The addition of their accounting skills is a nice enhancement to the services we can offer to existing and potential investees’.
Sophie Mills, Managing Director designate of MIA, said: ‘Joining Capital for Colleagues is a logical extension of our existing relationship with C4C, and we glance ahead to working with them to ship high quality recommendation and services to their EOB network’.
Capital for Colleagues is an funding agency focused on the UK EOB sector. The Company has a confirmed administration team, with a large community of contacts and affiliates, in addition to established entry to funding opportunities, enabling the Company to execute its technique and capitalise on EOB-focused funding opportunities. In addition, the Company educates and assists companies that are looking to launch worker possession schemes, advising them, amongst different things, on how to safe funding and obtain their objectives.