LONDON: Mercia Asset Management PLC (AIM: MERC), a regionally focused specialist alternative asset manager overseeing more than £1.8 billion in assets, has participated in major funding rounds for Warwick Acoustics Limited and Axis Spine Technologies Limited, reinforcing the commercial progress of both companies.
Warwick Acoustics, a developer of audio systems for automotive and personal audio markets, secured £6.2 million in new investment, including £1 million directly from Mercia. Additional funding came from Mercia’s Northern VCTs, third-party investors, and other existing shareholders. The capital will support Warwick’s new research and development and assembly facility, as well as inventory build for its automotive division. Following the funding round, Mercia holds a fully diluted 31.7% stake in Warwick Acoustics.
Axis Spine Technologies, specializing in modular spinal implant systems, completed a £6.6 million funding round, including £2 million directly from Mercia. Additional funds were raised through Mercia’s Northern VCTs and EIS managed funds, along with third-party investors. The capital will be used to drive the company’s sales growth. Mercia now holds a fully diluted 14.5% stake in Axis Spine.
“These follow-on investments into Warwick Acoustics and Axis Spine highlight the continuing commercial progress and resilience of our direct investment portfolio, together with the continued appeal of these technology-led companies for growth-focused co-investors,” said Dr. Mark Payton, CEO of Mercia Asset Management. “In a challenging macroeconomic environment, the ongoing co-investor interest in Mercia’s direct investment portfolio validates both their enterprise values and commercial relevance.”
The investments signal continued confidence in the potential of Warwick Acoustics and Axis Spine, as both companies advance their technology-driven offerings in their respective industries.