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Beringea, a private equity and investment banking group, has provided £2 million of expansion capital to an image licensing specialist.

Imagestate, which provides royalty free and rights-managed images, will use the investment to expand its image library. It also plans to extend its offering to other media outlets as well as reduce debt.

Beringea’s investment was arranged by director Jeff Bocan, who was supported by law firm Speechly Bircham with Hurst Morrison Thomson partner Andrew Thomson as the reporting accountant.

Thomson commented: “This additional capital provides Imagestate with an opportunity to continue its success.”

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