Business
Enters into Largest Royalty Agreement To Date
Enters into Largest Royalty Agreement To Date.
About this update from Duke Capital Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 7491U\n Duke Royalty Limited\n 07 December 2021\n \n \n \n \n 7 December 2021\n \n \n \n \n \n Duke Royalty Limited\n \n \n \n \n \n (\"Duke Royalty\", \"Duke\" or the \"Company\")\n \n \n \n \n \n Enters into Largest Royalty Agreement To Date \n \n \n Duke Royalty (AIM:DUKE), a provider of alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and abroad, is pleased to announce that it has entered into a US$21.0 million (approximately £15.9 million) royalty financing agreement (the \"Financing\") with Atlas Signs Holdings, Inc. (\"Atlas\"). This partnership represents Duke's largest investment to date and expands upon the Company's North American presence.\n \n Atlas is a US-based, turnkey national brand implementation company that delivers signage, sign maintenance, lighting, installation, and project management services to the world's leading companies.\n \n \n \n \n Highlights:\n \n \n \n \n \n ·\n Initial cash yield of 12.5% per annum via monthly payments, which commence immediately\n \n \n ·\n 30-year secured financing, with distributions to be adjusted annually to reflect Atlas' consolidated revenue growth, on typical Duke terms\n \n \n ·\n Founded in 1992, Atlas is a family owned company with a long history of successful operations, providing a complete range of signage-related products and services \n \n \n · \n Atlas has a diverse and long-standing customer base including national and Fortune 500 companies \n \n \n · \n Duke's financing will support the refinancing of Atlas' current debt, general working capital and growth initiatives\n \n \n \n \n \n Neil Johnson, CEO of Duke Royalty, said:\n \n \n \n \n \n \"This partnership is the largest investment in our history and further diversifies our revenue base. We believe Atlas is a good example of a company that is seeking long-term capital to replace conventional private credit. We believe the pandemic has opened the opportunity for Duke to appeal to a broader number and larger companies. As an owner-operator business with proven profitability and growth, a history of successful operations with major national brands and a strong customer service reputation, Atlas represents the ideal royalty partner for Duke and we are de...