White Young Green seeks to raise £15m

White Young Green (WYG) is seeking nearly £15m from the City to make acquisitions and reduce its gearing.

WYG hopes to raise £6.2m through a placing with institutional investors and up to £8.6m through an open offer to qualifying shareholders.

Since 1997 WYG has acquired 17 businesses for a total of £18.8m and as of 30 June the consultancy had a net debt of £12.2m. The orderbook stands at £144m.

WYG's exposure to the collapsed Ballast amounts to £350,000, however negotiations are well advanced with contractors to take over the relevant contracts for which WYG holds intellectual property rights.