LONDON: Braveheart Investment Group, a UK-based investment company, has increased its shareholding in Autins Group, a leading provider of acoustic and thermal solutions for the automotive sector and other industries.
Braveheart announced that it has acquired an additional 4 million shares in Autins at an average price of 8 pence per share, for a total of £320,000, between March 4 and March 5, 2024. This brings its total stake in Autins to 23.42% of the issued share capital.
Autins, which is listed on AIM, has been benefiting from the growing demand for electric vehicles, which require more noise and heat insulation than conventional cars. Autins supplies major vehicle manufacturers such as Jaguar Land Rover, Nissan, BMW, Aston Martin, Lotus, Lamborghini and Bentley, as well as Tier 1 suppliers such as Draxlmaier, Kasai, Treves, Novares, Mergon and Yangfeng.
However, Autins reported a loss before tax of £1.04 million on revenue of £22.7 million for the year ended September 30, 2023, due to the impact of the Covid-19 pandemic and the Brexit uncertainty on its operations. The company had net assets of £10.8 million at the end of the period.
Braveheart, which invests in growth companies across various sectors, said that it considers its investment in Autins to be strategic and a valuable addition to its portfolio. The Braveheart board said that it continues to look for new investment opportunities, both within and outside its existing portfolio.
Leave a Reply