New portfolio manager for Midven

VENTURE capital specialist Midven has appointed Debbie Sorby to the position of portfolio manager.
 
Ms Sorby, who has 18 years’ experience in such roles, will be based at Midven’s Birmingham office and will look after portfolio companies based across the West Midlands.
 
In particular, she will manage relationships with the companies in Midven’s Exceed Fund, an £18m fund launched in 2010 to provide expansion and development capital to businesses across the region.
 
She said: “Midven’s core ethos is about offering more than simply cash; we bring a wealth of experience, strategy and operational expertise. My role is very ‘hands on’ will be all about maintaining and developing the relationships we have with our portfolio companies working closely with them to help them achieve their growth objectives.”
 
Prior to joining Midven, Ms Sorby spent 12 years with multi-national venture capital company 3i and then YFM Equity Partners.

Lloyds expands Acquisition Finance team

LLOYDS Bank Commercial Banking has expanded its Birmingham-based Acquisition Finance team with the appointment of private equity professional Richard Thomas.

Thomas, who works in the Colmore Row office as a director, will deliver senior debt and working capital facilities in support of private equity-backed acquisitions and refinancing. He will report into Ian Sale, Managing Director, Acquisition Finance, in London.

A qualified chartered accountant with more than 15 years of industry experience, Thomas began his career within Grant Thornton’s corporate finance function where he spent eight year advising on M&A transactions.  

In 2010, he joined Key Capital Partners as an investment director and during his time at KCP he worked on its investments in Birmingham-based glass processor Mi Glass, healthcare staffing provider NursePlus and temporary recruitment business Templine.

Martin Cordey, Head of the Acquisition Finance team in Birmingham, said: “Richard is a great addition to the team. He has a strong track record in dealmaking and, following his time in private equity, has built real understanding of a sponsor’s needs when it comes to financing transaction. His arrival further emphasises our appetite to lend and the fundamental role of senior debt in funding private equity activity across the Midlands.”
 

Insurance broker inspired to create new division

COVENTRY independent insurance broker, Inspire Insurance Services has launched a new division after recording a strong year of growth.

Inspire Insurance Services, which operates throughout the UK from its base at Mercia Business Village on Westwood Business Park, Canley, is marking its fifth anniversary by establishing a new Landlords Division.

The new department will serve both residential and commercial landlords directly as well as provide cover indirectly through lettings agencies and property management companies.

The expansion has seen the company strengthen its senior team with the appointment of Daniel Westlake (pictured right) to head up the new Landlords Division.  

He is an experienced commercial broker and will initially concentrate on developing the new strand of the business within Coventry before extending out into the wider region and ultimately nationally.

Leigh Mackey, managing director, Inspire (pictured left) said: “It is an area where we have always had strong expertise, and the number of clients and enquiries from landlords and lettings agents has grown to a level that warranted a standalone division.

“We are already in talks with a number of high-profile lettings agents and property management companies within the area who recognise the benefits of having third party access to a full range of insurance cover for landlords.”