Case studies

1. Caledonian Building Systems
2. Capula
3. Celtic Inns
4. CGI
5. Davenham
6. etc.venues
7. Fernau
8. Formaplex
9. Gardner Group
10. Goals Soccer Centres
11. Home & Legacy
12. Letts Filofax
13. Practice Plan
14. RSL Steeper
15. Weldex
16. WFEL
17. Zenith Vehicle Contracts

Caledonian Building Systems

We worked with the management team to identify and pursue new market opportunities resulting in landmark contract wins with HM Prison Service. This investment returned a money multiple of 5.8 times, which equates to an IRR of 110% over two and a half years.

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Capula

We worked with the management team to analyse new end markets and developed strategies to enter those markets. We also helped to develop operational tools to improve management information within the business.

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Celtic Inns

We provided further funding to allow the Celtic Inns management team to pursue its expansion strategy. On exit, Celtic Inns generated a 2.5 times money multiple and an IRR of 101%.

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CGI

We helped the CGI management team to implement a new strategy for broaden the product range and penetrate new geographic markets, including a Joint Venture in India.

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Davenham

We took an active role in supporting and advising the business, including raising two rounds of finance, facilitating an acquisition and helping to prepare the business for flotation on AIM.

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etc.venues

We provided additional funding to support an excellent management team in the roll out of the etc.venues model across the UK. We are also helping to identify acquisition opportunities.

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Fernau

We set the growth strategy for the company, helped management implement this strategy and increased the focus on cash generation and working capital management. The investment achieved an exit IRR of 92% and a money multiple of 3x.

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Formaplex

We helped Formaplex with additional finance and a strategic review which provided the support and tools to the talented executive team to allow them to continue to grow the business.

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Gardner Group

We took an active role supporting the business strategically and financially which allowed a talented new management team to turn the business around.

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Goals Soccer Centres

We provided follow-on development finance to fund the roll-out strategy and introduced key people to the business including the Finance Director, thus ensuring that Goals had a solid financial platform to continue growing.

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Home & Legacy

After the initial investment we provided two further rounds of funding, supporting the team to drive the business forward through organic growth and strategic alliances.

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Letts Filofax

We supported the transformational acquisition of Filofax within a year of completing the Letts deal. This acquisition offered substantial synergies as well as adding a global brand to the business at an attractive price.

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Practice Plan

We have supported Practice Plan in its growth and strategic development: doubling the membership base, divesting non core subsidiaries, expanding into the Irish market and establishing an insurance underwriting subsidiary.

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RSL Steeper

We supported RSL through a rapid strategic transformation providing the guidance and the finance to help the company redefine itself from being a UK focussed services business into a global healthcare products company.

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Weldex

Prior to investing we carried out a significant amount of work to understand the business and its market drivers. This was a major contributor in allowing us to act quickly and decisively to complete the transaction.

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WFEL

We helped the company to increase its banking facilities to fund working capital needed for a number of new high value contracts. We have also supported WFEL in penetrating new geographic markets.

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Zenith Vehicle Contracts

We used the Dunedin network to introduce potential customers, review acquisition targets and introduce service providers to increase processing efficiencies. This resulted in an acceleration of the company's growth. In under two years we realised this investment, returning an IRR of 45% and a 2x money multiple on our equity investment.

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