Edelson’s £9m Swoop Down Under
Prolific Manchester businessman Michael Edelson is ploughing a new furrow Down Under in a £9m swoop for one of Australia’s fastest growing companies.
The veteran entrepreneur is reversing Australian electronic payments company Paycorp Group into one of his listed shell businesses, Birch Partners, registered in Heaton Mersey.
Mr Edelson, 63, from Hale Barns, and his daughter Emma Myers, 34, floated Birch on the PLUS market in August 2006, raising £1.57m and pledging to look for investment opportunities in the technology sector.
His numerous directorships have included Knutsford Group, Chelford Group, ASOS, Felix Group and Oxygen Holdings – which he launched with his daughter – and he has been on the board of Manchester United since 1982.
He said: “Paycorp is an established payment solutions provider of secure payments, billing and business continuity solutions. Paycorp supports in excess of 40,000 clients and processes in excess of 5.8bn Australian dollars a year.
“It is set to expand in the Asia Pacific region and then look for acquisition opportunities in Europe.
“This acquisition satisfies the investment strategy of Birch and brings the sixth-fastest growing company in Australia in 2007 on to the PLUS market.
Obviously experienced in business, Michael Edelson is now taking on a new business that has already proven successful in Australia.
joshua on April 5th, 2008 7:18 am
Wow, Nice posting.
Haroun Kola on April 6th, 2008 1:38 pm
Its great to see people still investing in Internet companies
lpks jzeaol on July 13th, 2008 9:26 pm
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