Board Changes & Appointment of New CFO
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").
4 April 2025
Equipmake Holdings plc
("Equipmake" or the "Company")
Board Changes & Appointment of New Chief Financial Officer
Equipmake, a market leader in engineering-driven differentiated electrification technologies, products and solutions across the automotive, truck, bus and speciality vehicle industries, is pleased to announce the appointment of Ian Selby as Chief Financial Officer, Director, and Company Secretary, with immediate effect. The Company also announces that Dr. Nick Moelders, Chief Operating Officer, will be leaving the Company and his role as Director, with immediate effect.
Ian is a highly experienced CFO and Non-Executive Director with a strong track record in AIM-listed and VC/PE-backed companies. His expertise includes company turnaround and restructuring, high-growth strategies, cash and debt management, financial reporting, M&A, fundraising, and international expansion. In addition, Ian has extensive commercial and operational management experience, alongside a well-established network within the financial and investment community.
With a background primarily in technology and business services, Ian has successfully applied his skills across various industries during his career. He has demonstrated his operational leadership in previous CFO roles in listed companies including Falanx Cyber Security Limited (now Cloudified Holdings Limited), Westminster Group plc, Zenith Hygiene Group plc and Corero plc. He has overseen significant acquisitions and disposals, improvements in financial governance as well as refinancing projects. He is a non-executive director of Cloudified Holdings Ltd, an AIM listed cash shell which is currently progressing a reverse takeover. His appointment strengthens Equipmake's leadership team as the Company continues to develop its product, market and operational strategies following the recent development agreement with and strategic investment by Caterpillar Ventures Inc.
The Company has also mutually agreed with Dr. Nick Moelders that he will leave the management team and board of Equipmake with immediate effect. Nick has made an outstanding contribution to the evolution of the Company, including leading significant operational and supply chain developments. Following the recently announced strategic investment by Caterpillar Ventures Inc., this change facilitates the strongest possible focus on the Company's updated commercial, operational and product goals.
Ian Foley, CEO, Equipmake said: "I am delighted to welcome Ian to the Board as our new Chief Financial Officer and I am confident that his strong network in the financial markets, combined with a track record in hands on commercial, operational and financial management, makes him ideally suited to support Equipmake's ambitious growth plans. Ian's appointment will further strengthen our leadership team, and his strong track record of value creation will be invaluable as Equipmake continues to expand its presence in the global electrification market.
"And on behalf of the Board, I would like to extend my deepest gratitude to Nick for his leadership and wisdom over the past year. Nick has been an instrumental part of our journey, and I wish him all the best in his future endeavours."
Disclosures required pursuant to Rule 4.9 of the Aquis Growth Market Apex Rulebook
Ian Selby has the following current and previous directorships, over the last five years, to declare. He does not hold any securities issued by the Company.
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Current directorships
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Former directorships, within the last five years |
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Cloudified Holdings Limited
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Falanx Assynt Ltd (resigned 6/10/21 on disposal) Falanx Cyber Technologies Ltd and Falanx Cyber defence Ltd (resigned 12/12/23 on disposal
The below were dormant companies and were put through members voluntary liquidations in 2024 as part of a corporate restructuring
Falanx Protection Ltd Cloudified Ltd Penetration Testing Ltd Secure storm ltd First Base Technologies (London) Ltd, Cloudified Dormant 1 Ltd
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**ENDS**
For further information, please contact:
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Equipmake Clive Scrivener, Non-Executive Chairman Ian Foley, CEO
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Via St Brides Partners |
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VSA Capital (Financial Adviser, Aquis Corporate Adviser and Broker) Simon Barton / Brian Wong |
Tel: +44 (0) 20 3005 5000
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St Brides Partners (Financial PR Adviser) Susie Geliher / Paul Dulieu / Will Turner |
Tel: +44 (0) 20 7236 1177 |
About Equipmake
Equipmake is a UK-based industrial technology company specialising in the engineering, development and production of electrification products to meet the needs of the automotive and other sectors in support of the transition from fossil-fuelled to zero-emission drivetrains.
Equipmake is a leader in high performance technologically advanced electric motors, inverters and complete zero-emission electric drivetrains and power electronic systems. Equipmake has developed a vertically integrated solution providing fully bespoke solutions to its customers. The Company is focussed on accelerating traction with OEM and Tier 1 suppliers in relation to higher margin component and drivetrain supply under long-term growth contracts.
Key differentiators of the Company offerings are its advanced technology and performance, reliability and adherence to ASIL-D1 functional safety. Equipmake's advanced motor and inverter technology, featuring ASIL-D compliance, are designed to customers' highest Functional Safety standards. With decades of experience in electric drivetrain integration and a dedicated prototype vehicle testing facility, Equipmake can significantly accelerate product development for customers.
1 Automotive Safety Integrity Level ("ASIL") is a risk classification scheme defined by the ISO 26262 - Functional Safety for Road Vehicles standard and is a critical requirement for road vehicles. Of the four ASILs identified by the standard, ASIL-D dictates the highest integrity requirements on the product, which require exceptional rigour in their development.
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