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On 13 May 2025, Mercia Asset Management PLC announced its participation in funding rounds for two direct investment portfolio companies. Warwick Acoustics Limited secured £6.2 million in new investment, which included a £1.0 million direct investment from Mercia, resulting in Mercia holding a 31.7% fully diluted direct investment. Axis Spine Technologies Limited completed a £6.6 million funding round, with Mercia directly investing £2.0 million and subsequently holding a 14.5% fully diluted direct investment.
| Date | 13 May 2025 |
| Time | 07:00:02 |
| Category | Miscellaneous |
| ID | 3065I |
RNS 13 May 2025
Mercia Asset Management PLC
("Mercia", the "Company" or the "Group")
Direct Investments into Warwick Acoustics and Axis Spine
Mercia Asset Management PLC (AIM: MERC), the regionally focused, specialist alternative asset manager with over £1.8billion of assets under management, is pleased to announce its participation in significant funding rounds for two of its direct investment portfolio companies, Warwick Acoustics Limited ("Warwick Acoustics") and Axis Spine Technologies Limited ("Axis Spine").
These investments reflect the continued commercial progress of both companies and the potential for their respective technologies. The funding rounds also underscore their ability to attract third-party co-investors.
Warwick Acoustics, which creates audio systems for the automotive and personal audio markets based on its superior sound quality and low energy technology, has secured £6.2million in new investment. This includes a direct investment of £1.0million, with the additional funding coming from Mercia's Northern VCTs, third-party investors and other existing shareholders. This additional investment will be used to fit out their new R&D and assembly facility, together with funding working capital for automotive inventory build. Following this funding round, Mercia holds a fully diluted 31.7% direct investment in Warwick Acoustics.
Axis Spine, a medical device company specialising in modular spinal implant systems, has completed a £6.6million funding round. This includes a direct investment of £2.0million, with additional funding coming from Mercia's Northern VCTs and EIS managed funds, alongside other third-party investors. This additional investment will be used to support the company's sales growth. Following this funding round, Mercia holds a fully diluted 14.5% direct investment in Axis Spine.
Dr. Mark Payton, CEO of Mercia Asset Management PLC, commented: "These follow on investments into Warwick Acoustics and Axis Spine highlight the continuing commercial progress and resilience of our direct investment portfolio, together with the continued appeal of these technology led companies for growth-focused co-investors. In a challenging macroeconomic environment, the ongoing co-investor interest in Mercia's direct investment portfolio validates both their enterprise values and commercial relevance. "
Ends
For further information, please contact:
Mercia Asset Management PLC
Mark Payton, Chief Executive Officer
Martin Glanfield, Chief Financial Officer
www.mercia.co.uk +44 (0)330 223 1430
Canaccord Genuity Limited (NOMAD and Joint Broker)
Simon Bridges, Andrew Potts, Harry Gooden
+44 (0)20 7523 8000
Singer Capital Markets (Joint Broker)
Charles Leigh-Pemberton +44 (0)20 7496 3000
FTI Consulting
Tom Blackwell, Jenny Boyd +44 (0)20 3727 1051
About Mercia Asset Management PLC
Mercia is a proactive, specialist alternative asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of venture, debt, private equity, and proprietary capital: the Group's 'Complete Connected Capital'.
The Group has a strong UK footprint through its regional offices, university partnerships, and extensive personal networks, providing it with access to high-quality deal flow.
Mercia Asset Management PLC is quoted on AIM with the EPIC "MERC".