New Ashcroft vehicle to float
Article Date: Oct 12 2007Carlisle Group, the support services concern backed by Tory financier Lord Ashcroft, is floating its Shellshock investment arm for £5 million.
Based, like Carlisle, in the tax haven of Belize, Shellshock has the stated objective of investing in quoted or unquoted companies in the ‘business or consumer services sectors’. With a board including Carlisle non-executive director Peter Gaze, Shellshock says it will focus on companies that may have been set up by entrepreneurs needing financial backing to develop promising strategies.
Birmingham-based Fyshe Horton Finney is broker to Shellshock, whose nominated adviser is Cenkos Securities. Carlisle shareholders have been given Shellshock shares
as a dividend and, as a result, Ashcroft will hold 74.7 per cent of the newly floated company.
Ashcroft, a veteran entrepreneur and wheeler-dealer in the office servicing and cleaning sectors, has been busy on AIM of late. Two days ago, he sold his officer maintenance and landscaping outfit OneSource Service to US group ABM Industries in a £180 million deal, which valued his stake at around £120 million.
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