Augusta plans KCL deal
Mark Francis said no binding agreement has yet been reached between the parties. But it was something that had been worked on for a number of months. “We’re certainly at the business end of the transaction now.”
He said it would continue the growth of Augusta Capital’s funds management business, taking its funds under management from approximately $250 million to more than $1 billion and giving the company a number of synergies and a platform for further growth.
It is intended that, should a transaction proceed, the principal shareholders and directors of KCL will join the Augusta Executive team.
Francis said it would enable Augusta to remove potential its biggest competitor from the market place. The size of the new operation would offer benefits, he said. “We’d be quadrupling our FUM and there would be big economies that would flow from that.”
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