Aquila announced the expansion of its consultancy support services with investments in 3C Consultants Ltd (“3C”), one of the largest providers of IT consultancy to the UK social housing sector, and AssetCore Limited (“AssetCore”), a platform for storing and managing loan security information with links to lenders, legal advisers and security trustees.
Aquila’s growth strategy is for a one-stop-shop aiming to meet all the high level professional support its housing sector clients require. These two investments recognise the increasing importance of IT in driving efficiencies in financial and service performance.
Investment in 3C
Aquila has invested £154,000 taking a 25% stake in 3C. As part of the investment, Steve Douglas, Co-Chief Executive of Aquila, has joined the board of 3C as a non-executive director and 3C’s wide range of IT services are available to the Group’s clients and these include:
· IT service review
· ICT strategy development
· Application and infrastructure review and specification
· Business case and policy development
· Business process mapping and re-engineering (including Digital Engagement)
· Data extraction, assessment, management and reporting
· Data protection policy, review and training
· Project management and assurance
· Achieving social value and SROI (Social Return On Investment)
· Digital Transformation
· Interim roles such as Head or Director of ICT
Investment in AssetCore
Aquila has invested £120,000 as part of a new £500,000 fundraising and £75,000 refinancing of existing equity taking an 8% stake in AssetCore, a fintech company that has developed a cloud based platform to enable affordable housing organisations to better manage their property security information. As part of the investment, Derek Joseph, the Company’s Chairman, has joined the AssetCore board as chairman. The Group will benefit from access for its clients to the AssetCore platform, which by creating paperless trails of information and direct access to the data, reduces delays, contains legal fees and administration costs and generates better reports.
Derek Joseph, the Company’s Chairman commented:
“These are exciting investments building on our offer to clients, many of whom are looking at digital transformation; better management of their data; and ensuring their IT systems and controls are fit for the future. The work of 3C will complement our offer by providing digital and ICT strategy support; strategic data management; GDPR compliance; and programme management; encouraging innovative IT solutions for the housing sector. The investment in AssetCore will take forward efficient and timely solutions for loan security information management.
For further information, contact:
Steve Douglas, Co-Chief Executive Altair: 07810 152840
Colin Sales, Managing Director at 3C Consultants: 07810 543008
Jacinta Balchin, Executive Director at AssetCore: 07905 973435
Roland Cornish, Financial Adviser, Beaumont Cornish Limited: 020 7628 3396