Evolutec Group To Acquire Nanoco Tech

Mar 2 2009 | 9:09am ET

The U.K. investment company Evolutec Group plans to acquire the Manchester-based Nanoco Tech plc, a nanotechnology company specializing in the development and manufacturing of fluorescent semi-conducting materials called quantum dots.

Quantum dots are a platform technology with a wide range of uses including solar energy, solid state lighting and next generation displays.

Once the acquisition (which constitutes a reverse takeover) is approved by shareholders, the enlarged group will be known as Nanoco Group plc and have a market capitalization of an estimated GBP 38.6 million ($54.8 million).

Manchester-based investment bank Zeus Capital acted as financial adviser to Evolutec and will continue to act as Nominated Adviser to the enlarged group. Nanoco chief executive Dr. Michael Edelman said in a statement, “This acquisition represents the next milestone in Nanoco's rapid development.”

Evolutec is listed on the Alternative Investment Market of the London Stock Exchange, admission to which will allow Nanoco to “further strengthen its shareholder base and balance sheet” and give it the resources to meet growing demand for its products, said Edelman.

Nanoco was founded in 2001 by two academics from Manchester University – Paul O'Brien and Nigel Pickett – to advance the development of quantum dots.


In Depth

Q&A: George Schultze On His Fund's Unique Approach to Distressed Investing

Apr 16 2015 | 1:01am ET

George Schultze is a managing member of Schultze Asset Management, a long/short...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Minnesota Supreme Court Rejects The Ponzi Scheme Presumption: Lenders Claw Back Some Of Their Own Rights

Apr 17 2015 | 9:23am ET

A recent court ruling in Minnesota has put an end to the Ponzi Scheme Presumption...

 

Editor's Note