Business
£5 million Strategic Investment by Caterpillar
£5 million Strategic Investment by Caterpillar.
About this update from Equipmake Holdings Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.\n \nThis announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.7 of the Takeover Code and there can be no certainty that any firm offer will be made, nor as to the terms on which any offer will be made.\n \nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"). With the publication of this announcement, this inside information is now considered to be in the public domain.\n \n31 March 2025\n \nEquipmake Holdings plc\n(\"Equipmake\" or the \"Company\")\n \n£5 million Strategic Investment by Caterpillar Venture Capital Inc.\nsuccessful conclusion of Strategic Review and end of Formal Sale Process\n \nEquipmake, a market leader in engineering-driven differentiated electrification technologies, products and solutions across the automotive, truck, bus and speciality vehicle industries, is pleased to announce the successful conclusion of its strategic review (the \"Strategic Review\") and Formal Sale Process with immediate effect, following its announcements of 6 December 2024 and 6 January 2025.\n \nStrategic Investment\nThe Board is delighted to announce that the Company has entered into a £5 million senior secured convertible loan note (the \"Convertible Loan\") with Caterpillar Venture Capital Inc. together with a development agreement with Caterpillar Inc. (\"Caterpillar\") to develop electric drivetrain products and solutions across Caterpillar's applications.\n \nWith 2024 sales and revenues of $64.8 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.\n \nHighlights:\n· £5 million financing secured through a Convertible Loan with Caterpillar Venture Capital Inc., a wholly owned subsidiary of Caterpillar, a global leader in the design and manufacturing of heavy equipment, engines, and machinery.\n·&...