Axiomlab plc (“Axiomlab”), the AIM listed regional provider of capital and business building expertise, is pleased to announce an investment in Braddahead Limited. Axiomlab invested an initial £83,334 for 25% of the equity. The round includes provision for further equity and debt investment to a total Axiomlab investment of £366,734. Axiomlab acted as part of a syndicate, which included the Merseyside Special Investment Fund and the North West Equity Fund.
Braddahead Limited is a start-up, founded to develop technology and products in the closed circuit television (CCTV) sector. The management team of John Humphrey, Peter Diamond and Mike Fawcett has previously operated successfully in this sector with Dedicated Microcomputers Group Limited.
Commenting on the investment, Axiomlab’s Managing Director Fred Mendelsohn said: "The syndicate is backing a proven management team in an exciting growth market. Braddahead is an exciting addition to the Axiomlab portfolio”.
For further details please contact:
Axiomlab plc
Fred Mendelsohn, 07802 738 506
Braddahead Limited
John Humphrey, 07759 604 705
Buchanan Communications
Richard Oldworth, 0207 466 5000
28 August 2002
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