MARWYN PORTFOLIO COMPANY RECEIVES TAKEOVER OFFER- PRESS RELEASE
London, 19 May 2010 – Marwyn, the principal investment and specialist fund management group, today confirms that its portfolio company Melorio plc (“Melorio”) has received a takeover offer from Pearson plc (“Pearson”).
Pearson has made an all-cash offer of 225p a share, a price which values the company at approximately £120m.
Marwyn owns 26% of Melorio through its cornerstone fund Marwyn Value Investors (MVI). Marwyn facilitated the making of the offer by providing Pearson with an irrevocable undertaking over their entire shareholding at 225p a share at an early stage in the process.
Melorio, one of the UK’s leading vocational training groups which delivers training and skills solutions across a number of major industries (ICT, construction, logistics and health and social care), was launched by Marwyn in October 2007 at 100p a share. Since then the management team has been supported by Marwyn to pursue Marwyn’s proven buy-and-build strategy in the public markets.
Mark Watts, Managing Partner of Marwyn, said: “As evidenced by the identity of the offeror, once more Marwyn and its management team have created an industry-leading business in a relatively short period, this time in a sector that is key to improving productivity and output in the UK.”
ENDS
James Kingsley
Marwyn Investment Management LLP
Tel: +44 (0) 207 004 2718
Email: jameskingsley@marwyn.com
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