London-based turnaround PE firm founded 1986, became PE fund 2001. Portfolio incl. Pizza Hut UK (330 dine-in), Armitage Pet Care (£140m exit), JSM Group (6.6x return, exited 2024), Southgate Global, Maplin, Walstead Group, Omar Group. Sector agnostic; Consumer Goods & Auto heavy. Primary UK focus, some Singapore. Value-add: hands-on management support, turnaround expertise, sustainable value creation. Team: 8 staff, 6 partners.
Investment Focus
Investment Thesis
Special situations & turnarounds in UK mid-market. Entry: £20-150m EV; c.£10-50m equity cheques. Sector-agnostic but avoid external-dependency bets. Transaction types: MBOs, MBIs, P2Ps, carve-outs, secondaries, replacement capital. Value creation via operational & financial transformation. Current Fund £260m. Team: 8 professionals (6 partners). Est. 39yr track record, c.£770m invested across 30+ holdings.
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