Equity investor to help steer Drum Cussac

Investment from Root Capital.

Equity investor to help steer Drum Cussac

Girija Shettar

Maritime intelligence company Drum Cussac will receive investment from a UK private equity fund, which will also have a stake in the management of the company.

Equity firm investor, Root Capital LLP, invests in “challenging deals, including public-to-privates, distressed situations and businesses which need major changes to improve their underlying strength and value” as well as “growth businesses in the equity gap”.

The investment amount was undisclosed by Drum Cussac, but Root Capital LLP generally makes “equity investments of between GBP0.5 million and GBP6 million (USD7.6 million – USD9.2 million) in companies with revenues of between GBP1 million and GBP50 million (USD1.5 million – USD76.9 million)”, the company states on its website.

Simon Philips, Root Capital’s managing partner, will become chairman of Drum Cussac as a result of the investment.

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Source: http://www.ihsmaritime360.com