Corac develops new generation industrial compressors.
They used a new technology to design a compressor which improves recovery rates from gas fields; an area we felt had huge scope for growth.
In 1998, we participated in a funding package to support a new management team restructuring the business, led by a new executive chairman with a strong track record of successful turnarounds.
The Company subsequently floated on AIM in 2001, delivering an IRR of 36% and a total cash return of 12X our original investment.
