NorthEdge Capital has made two key appointments following an active start to 2018 in which the firm has completed five transactions at a combined value of £160m.
Keven Parker and Andy Tupholme both join NorthEdge as portfolio directors.
Keven joins NorthEdge with over 12 years’ experience in leveraged buyout transactions gained at 3i Group plc as Head of the firm’s Manchester office and one of six Partners across its UK buyout team. He joins from construction firm Shepherd Group, where he was a main board Director and Group CFO.
Andy joins NorthEdge with 20 years’ investment experience, largely developed at Gresham Private Equity, where he invested in a series of northern-focused businesses across a wide range of sectors as partner. Andy joins NorthEdge having operated as an independent non-executive director on a number of boards, including social investment fund The Key Fund, and Chairman of the HR tech business Tribepad.
At NorthEdge, Keven and Andy will support Head of Portfolio Ian Plumb to oversee and manage the firm’s active portfolio, which continues to expand following the completion of two exits and three investments in 2018.
Exits in 2018 include the sale of high-quality premium door solutions and window systems provider DW3 to US-listed trade buyer Masonite International Corporation (NYSE: DOOR), achieving a 3.5x return and the exit of IT solutions provider Jigsaw24 to private equity firm Alcuin Capital Partners achieving a 3.1x return.
NorthEdge has also completed three new investments in 2018, stairlift designer and manufacturer, Platinum Stairlifts, cloud transformation and infrastructure specialist, Cloud Technology Solutions (CTS); and commercial fleet specialist, Prohire.
Combined, NorthEdge’s five transactions this year have a deal value of £160m, with the companies achieving sales of £260m.
Grant Berry, managing partner at NorthEdge Capital, said: “We can reflect on an incredibly strong start to the year, in which we have added to our Investment and Portfolio teams, settled into our new Manchester headquarters and completed a number of transactions across the North and the Midlands.
“Our exits of DW3 and Jigsaw24 are particularly pleasing and we are proud that our support has enabled these businesses to attract significant investment.
“Keven and Andy are both great additions to the team and bring a wealth of experience to NorthEdge. Their appointments are testament to our growing stature as we continue to add to our diverse portfolio with ambitious, strong management teams, and we look forward to working with Keven, Andy, and our existing Portfolio Team to deliver growth to our investee companies.”