32
DEALMAKERS
IN ASSOCIATION WITH:
GOING FOR GROWTH
Private Equity is on the march in Lancashire with a raft of headline-making acquisition and investment deals.
The flurry of activity comes as a new report reveals that the North West equity market is on the rebound, with growth in both deals and value after years of decline.
UK mid-market private equity investor Palatine is among those leading the charge in the county. In early June, Palatine took a majority stake in a Chorley headquartered fast-growing tech-driven global fulfilment provider.
The first investment from its recently- closed £254m Buyout Fund V, will support fulfilmentcrowd as it continues to scale organically in the UK, Europe, Australia and the US, as well as delivering on M&A opportunities.
The disruptive technology company, which has more than 100 employees, has increased its revenue by 20 per cent in the last year as more than nine million items were shipped through its platform worldwide.
It has expanded its international footprint launching a new Asia-Pacific fulfilment hub in Sydney, Australia and a new operation in Dublin. Further bases in the US will open later this year.
Announcing the deal, Palatine said it saw “an excellent opportunity to help the business continue to scale at pace, using its experience in value creation and sustainability”.
The transaction sees a partial exit for BGF, the UK and Ireland’s most active growth capital investor, who invested in the business in 2021. However, BGF will continue to support
the business on its growth journey, having reinvested alongside Palatine.
Lee Thompson, chief executive of fulfilmentcrowd, is looking ahead to further growth opportunities on the back of the deal. He says: “We flex our technology, expertise and service delivery model to deliver solutions that create competitive advantage.
“In Palatine, we have found a genuine growth partner with the strategic expertise and positive approach to value creation that will help develop our entrepreneurial culture and drive sustainable growth over the coming years.”
Tom Wildig, senior investment director at
the deal. He says: “We’re proud to have supported fulfilmentcrowd through a sustained period of growth since our initial investment in 2021. We look forward to having an ongoing role alongside Palatine as the company continues to find new opportunities for international expansion.
“They have proven to be a highly scalable business, powered by strong management and award-winning technology. We’re excited to see the company embark on its next phase of growth.”
Palatine has also been involved a strategic bolt-on deal involving an award-winning east Lancashire waste management business announced in late June.
The North West continues to attract significant equity investment, supported by a thriving community of entrepreneurs, universities and research institutions
Palatine, adds: “We are very excited to be backing this entrepreneurial management team at fulfilmentcrowd. They have done an excellent job in building a market- leading, asset-light tech company.
“Leveraging our experience in tech services alongside our sector-leading approach to ESG, we look forward to supporting Lee and the rest of the team to accelerate growth and achieve their goal of becoming the world’s number one fulfilment platform for omnichannel brands.”
BGF partner Spencer Woods is also happy with
Manchester based Papilo, backed by Palatine, has acquired the organic waste landspreading division of Silverwoods Waste Management. No figure has been put on the deal.
Red Rose Awards winner Silverwoods will continue to operate its Altham waste transfer station and in-vessel-composting facility in Cumbria.
The transaction will boost Papilo’s revenues by more than £5m and marks its first acquisition since Palatine’s returns-focused Impact Fund made its investment in June 2023.
The acquired Silverwoods business is well-
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94
