An investment group based in Altrincham is to go public in New York via a $1.58 billion “blank cheque” merger with a special purpose acquisition company, or Spac. .
CorpAcq Holdings, which has a portfolio of 41 companies including industrial equipment rental businesses and plumbing firms, agreed to combine with Churchill Capital Corp VII, a vehicle led by the veteran dealmaker Michael Klein.
CorpAcq – short for Corporate Acquisitions and Investments – stands to raise up to $592 million from the transactions, although this sum is subject to redemptions by investors in Churchill VII.
The company was founded in 2006 by Simon Orange. It focuses on acquiring small and medium-sized enterprises, led by their founders.
Orange, who is the co-owner of the Sale Sharks rugby