LDC and Endless among winners in BVCA awards
SOME of the region’s outstanding businesses and private equity firms have been recognised by the investment community.
Mid market investor LDC won two out of the six awards organised by the BVCA – British Private Equity and Venture Capital Association.
Bosses at Lancashire’s Crown Paints were named Private Equity-Backed Management team of the year. The Darwen company was described as a “phenomenal turnaround story” since its 2008 acquisition by Endless.
Brian Davidson, chief executive of Crown Paints, said: “I would like to thank the BVCA for recognising the hard work which has gone in on behalf of my team, in transforming the Crown Paints business against such a difficult economic landscape.”
Warwick Ley, a partner at Endless, said: “We’re obviously delighted for the Crown management team, and Endless takes a lot of pride in what they’ve achieved.
“Despite some of the most difficult market conditions in decades, Brian Davidson and the team have bucked every market trend, whether it be sales growth, market share, margin enhancement or cost per litre. The cultural change their leadership has driven is exciting – there is now a ‘buzz’ at Crown Paints’ HQ, which is a place of high energy and ‘can do’ attitude throughout.”
The two winning LDC investments were for the £93m exit of British Salt and social housing services provider Forrest, which won the Environmental, Social and Governance Management Team of the Year.
Carl Wormald, director of LDC’s Manchester office, said: “As a private equity firm that’s committed to supporting the ambitions of our management teams, we’re delighted to see British Salt and Forrest recognised for their strengths and successes in these awards.
“Each company has clearly demonstrated the importance and impact of strong leadership, achieving outcomes that are truly transforming their businesses and opening up new opportunities for continued growth.”
The Hut Group, which is based in Northwich and could float on the Stock Market in the next six months won Venture Capital-Backed Management Team of the Year.
Online retailer The Hut, led by award-winning entrepreneur Matt Moulding, is backed by Balderton Capital and a number of private investors.
Manchester-based Palatine Private Equity’s portfolio company Air Energi won International Impact Management Team of the Year. Its success in lifting revenue while investing in new offices and staff in Canada, Peru and Papua New Guinea was cited by the BVCA.
Mike Reeves, chairman of the BVCA North West judging panel said: “We had a particularly strong list of candidates for the North West this year and the winners are all striking examples of the sort of talent our region continues to produce.
“These awards were designed to celebrate managerial excellence, and underline just what an important role private equity and venture capital plays not only in the North West, but also nationally. I’d like to congratulate all the winners on their success, it is thoroughly deserved.”
The winning North West companies will now progress to the national finals.
