Private Equity specialist looking for new opportunities in North West
Manchester based private equity firm NorthEdge is looking for opportunities in the North West after closing its SME fund.
The firm has closed its SME fund at its £120 million hard cap.
The fund was raised from existing investors and will allow NorthEdge to broaden its ability to take advantage of attractive investment opportunities in the UK regional lower mid-market.
The new fund will target businesses across all industry sectors in the North West, investing between £2-£10 million in growth and development capital, management buy-outs, equity release and buy-and-build opportunities.
NorthEdge Capital’s £315 million Fund II will continue to invest in opportunities requiring capital of £10-£45 million having invested over £150m in 11 companies since the first investment was made two years ago.
Grant Berry, managing partner at NorthEdge, said: “We are very pleased to have successfully raised SME fund I and value the continued support of our existing investors.
“This fund reflects our commitment to backing successful regional businesses and builds on our existing heritage whilst giving us much greater flexibility in terms of the businesses we are able to support.
“There is immense appetite for investment across the North and the Midlands and a plethora of talented management teams that have the potential to achieve their growth ambitions with our support.
“We look forward to capitalising on the new opportunities afforded to us through this Fund and are excited to work with SMEs to generate value for our investors.”
Houlihan Lokey acted as the exclusive placement agent for the fundraise.
NorthEdge Capital manages over £650m of private equity funds aimed at the North of England and Midlands regions targeting buy-out and development capital transactions.
The private equity firm closed its maiden Fund at £225m in March 2013, Fund II at £315m in March 2016 and SME Fund I at £120m in July 2018.
The firm has made 26 investments in Abbey Logistics, Accrol Papers, Arthouse, Belfield Furnishings Group, Bridge Farm Group, Clearly Drinks, Cloud Technology Solutions, Cubic Motion, Cutwel, Direct Healthcare Group, DW3, East Coast Concepts, Fine Industries, FPE Global, Future Industrial Services, Help-Link, ITC Luxury Travel, Jigsaw24, Platinum Stairlifts, Prohire, Ramsdens, Roberts Jackson, Sumo Digital, TKC, Total Fitness and Utiligroup.
