NorthEdge completes third deal
PRIVATE equity firm NorthEdge Capital has completed its third deal, paying £11m for a significant stake in Help-Link, a boiler and central heating installation specialist based in Leeds.
It follows investments into Stockport engineering firm FPE Global in February, and Nottingham and Salford-based IT firm Jigsaw24 earlier this month, from its maiden £225m fund.
Founded in 1998, Help-Link employs over 600 people and has turnover of £30m.
NorthEdge said the investment will help accelerate the company’s growth plans in the private boiler installations market.
As part of the deal, Keith Pacey becomes non-executive chairman of Help-Link. NorthEdge partner Andy Ball and director James Hall join as non-executive directors.
James Hall, who led the deal for NorthEdge, said: “Help-Link has grown significantly in recent years, thanks to its willingness to invest in its brand and its obsession with providing customers with what they want, with the quality they expect and at a price that they can afford. Help Link is entering an exciting phase of its growth and we are delighted to be part of the next stage of its development.
“Help-Link is a Yorkshire success story that has succeeded by putting the customer first and delivering what it promises. Its future is bright and we are delighted to be a part of it.”
Paul Land, of Tennant Land, provided corporate finance advice to the vendors. Nigel Ward, Kevin Barnard and Christopher Bollough of PwC’s Leeds practice provided financial due diligence advice. Legal advice to NorthEdge was provided by John Hamer and Joy Irving of Walker Morris in Leeds.
