Duke Capital invests £3.3 million in New Path Fire to support Elite acquisition 

LONDON: Duke Capital Limited (AIM: DUKE) has announced a £3.3 million follow-on investment in New Path Fire and Security Limited to facilitate its acquisition of Elite Entrance Systems Ltd, a specialist in automatic door systems. 

This brings Duke’s total financing in New Path to £14.30 million, with Duke increasing its equity stake from 15.0% to 20.9%. The deal maintains a 13.5% starting yield and a revenue-linked royalty structure. 

Elite, established in 2008, serves clients including the NHS, universities, and supermarkets, managing 4,500 doors and 1,500 roller shutters. The acquisition strengthens New Path’s presence in Southeast England, expanding its workforce to over 135 employees and a 10,000-strong customer base. 

Neil Johnson, Duke Capital CEO, said: “This expands New Path’s security capabilities and client base, reinforcing our long-term partnership.” 

This marks Duke’s seventh acquisition backing for New Path, supporting its buy-and-build strategy in the fire and security sector.