PRIVATE EQUITY FIRM OF THE YEAR
Sponsored by:
Winner: Altitude Partners
Following the virtual arrival of various political personalities via the voice skills of Matt Forde, the gathered professional dealmakers were invited by Forde to prepare for the actual arrival of the evening‘s first award-winners.
There were five shortlisted finalists for the title ‘PE Firm of the Year‘:
• Altitude Partners • August Equity • HIG Capital • Panoramic Growth Equity • Prowting Investments
Altitude Partners is a Solent-based equity fund and a specialist investor in growing businesses in the south. Simon White (second left) and Jonathan Simm (second right) are very active in the local marketplace and in 2014 supported the management buyout of James Tobias, and invested in the growth and restructure of Hampshire-based Chameleon Worldwide Travel in a deal advised by James Cowper Kreston and Pitmans.
August Equity has backed 3Si – Safety and Survival Systems International – and the Southampton company is now involved in an acquisition strategy that has seen it purchase Ocean Safety and Richard Irvin Marine Safety. Within the past 12 months, 3Si Group has also acquired International Safety Products, Revere Survival and Typhoon International, three of the best-known marine safety brands in the UK and US.
HIG Capital supported a multi-million-pound management buyout of Kondor, based in Poole, acquiring the majority stake in the company from founder Malcolm Bartlett. Electronic accessories supplier Kondor, which employs 250 people in its Christchurch and Hong Kong centres, ships up to 270,000 units per week. The deal marked HIG Europe‘s maiden investment from HIG Europe II, the €825 million fund which closed in 2013.
Panoramic (which was Deals Award shortlisted last year) has
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recently sold its stake in Specialist Tours, a niche multi-brand tour operator in a secondary buyout to Kings Park Capital and management. The sale has generated a significant return on investment for Panoramic in the two and a half years since it first invested in the company. Specialist Tours has acquired three trading brands – Andante Travels, Historical Trips, and New York- based Archaeological Tours.
Prowting Investments took a minority 30% shareholding in Fair Oak-based bespoke housebuilder Bargate Homes, which Bargate described as ‘a huge vote of confidence‘ in its team. Prowting is a name synonymous with UK housebuilding. The family ran their own housing business for many years branching out into commercial property and property investment. The fourth generation is still actively involved as long-term investors in the industry – most recently as shareholders in Banner Homes and another housebuilder in the West Country.
On behalf of the sponsors, WK Corporate Finance director Philippa Robinson (right) was invited to the stage to announce the category winner – Altitude Partners.
After the presentation – “It‘s tremendous to be recognised by your peers through this award“ – partner Simon White revealed that Altitude “has a second larger fund on the stocks“ set to fill the roughly £0.5 – 2 million funding gap for southern area businesses.
So, Altitude is a successful growing entity helping other businesses to grow successfully. “Yes, that‘s what we like to think.
“PE funding assists the whole way through. Other types of funding may provide money, but that‘s where it stops. A huge amount of the value of PE funding comes post transaction – experienced advice to help build the business, introduction to networks, and the bringing forward of other opportunities.
“You can take a pound from anybody, but PE pounds should come with a lot of business help.“
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2015
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