Endless to invest £40m into its portfolio companies
UK private equity house Endless – which has a Birmingham operation – is to invest more than £40m into its portfolio of companies over the next 12 months.
The firm, which also has offices in Leeds, Manchester and London specialises in investments in mid-market UK companies, said the commitment to support more than £40m of capital expenditure projects would involve its wide portfolio of companies including West Midlands-based retailers Bathstore and The Works, office products distributor Vasanta Group, business process outsourcing specialist Liberata and one of the UK’s largest pork producers Karro Food Group.
The Endless portfolio of companies has a turnover of more than £1.5bn with more than 12,000 employees.
Garry Wilson, managing partner at Endless, said: “At a time when the indications of growth in the UK economy are encouraging, this is further evidence that UK businesses are gaining the confidence to invest in the future.
“We are effectively investing more into our portfolio than the profits the companies earn after tax, so every penny they make and more this year is going back into the businesses to drive their future prosperity.”
Wilson added: “We are passionate supporters of UK business and see long term investment as the best way to drive value growth. We have recently seen a notable increase in the number of opportunities to acquire non-core subsidiaries of larger groups and it appears our track record of investment makes us a good home in the eyes of those parent companies looking to divest.”
Endless most recently acquired James Briggs, an aerosols and speciality chemicals manufacturer based in Oldham, from the US industrials group ITW Inc.
The £40m investment being made across the portfolio is spread across initiatives to open new markets, deliver operational step-changes and defend competitive positions.
This includes investing more than £20m in new production lines, facilities and operational developments, £8m in new sites and stores and £6m in IT, e-commerce and digital platforms. Endless expects to continue to commit similar amounts in subsequent years.
