LONDON, UK: Capital for Colleagues Plc, the investment vehicle focused on opportunities in the Employee Owned Business (‘EOB’) sector, has acquired the entire issued share capital of MI Accountancy Solutions Limited (MIA).

MI Accountancy Solutions Limited (MIA) is a Staffordshire based accountancy firm which offers a range of accounting services, principally the preparation of management accounts.

MIA already provides accounting services to a number of C4C’s investee companies, and the Directors believe that, by bringing these services in house, Capital for Colleagues will be able to cost-effectively broaden the support and advice it offers all EOBs, whilst at the same time strengthening relationships with existing investee companies.

Capital for Colleagues Plc has acquired MIA for an effective consideration of £95,000 in cash, satisfied from the Company’s existing resources. Deferred consideration of up to £20,000 may be payable, depending on the post-acquisition performance of MIA.

Alistair Currie, Chief Executive of Capital for Colleagues, said: ‘We are delighted to welcome Sophie and the MIA team to C4C. The addition of their accounting skills is a great enhancement to the services we can offer to existing and potential investees’.

Sophie Mills, Managing Director designate of MIA, said: ‘Joining Capital for Colleagues is a logical extension of our existing relationship with C4C, and we look forward to working with them to deliver quality advice and services to their EOB network’.

Capital for Colleagues is an investment company focused on the UK EOB sector. The Company has a proven management team, with a wide network of contacts and affiliates, as well as established access to investment opportunities, enabling the Company to execute its strategy and capitalise on EOB-focused investment opportunities. In addition, the Company educates and assists companies that are looking to launch employee ownership schemes, advising them, amongst other things, on how to secure investment and achieve their objectives.