News

11 March 2016

Harwood Private Equity backs CoventBridge

CoventBridge Group Limited, a new company formed by Harwood Private Equity, has acquired and merged the businesses of ICS Merrill and GlobalOptions, making it the largest outsource provider of insurance claims investigative services in North America, in addition to its UK trading operations. CoventBridge is pursuing a buy-and-build strategy to expand its UK and Continental Europe footprint led by non-executive chairman Roger Day, a former Ace and Zurich executive, and Dave Merrill, formerly CEO of ICS Merrill.

5 February 2016

B&G rebrands to ‘Curtis Gilmour’ and expands through acquisition

Harwood Private Equity portfolio company B&G, a leading manufacturer of specialist equipment for the control of insects and rodents, has adopted the name Curtis Gilmour and expanded through the acquisition of two new businesses. Curtis Gilmour acquired Cardiff-based Agrisense Industrial Monitoring Limited and Silvandersson AB of Sweden. The new acquisitions expand Curtis Gilmour’s range of pest-control solutions through the addition of crawling and flying-insect traps, and increase UK and European distribution.

7 August 2015

Harwood Private Equity acquires Essenden

Essenden plc has been acquired through a public-to-private transaction for £40 million. Essenden is the second largest operator of indoor bowling and family entertainment centres in the UK, operating under the Tenpin brand. It currently has more than 30 sites offering ten-pin bowling games, bar and restaurant services, amusement and gaming machines and other related leisure activities. Nick Basing, an operational adviser to Harwood Private Equity, is the current CEO of Essenden. Nick will be continuing in the capacity of executive chairman of the business.

24 July 2015

Harwood Private Equity exits Celsis

Harwood Private Equity achieved a final exit from its investment in Celsis International Limited through a sale to a trade buyer on 24 July 2015, creating a very successful return for investors. Celsis is a global market leader in the manufacture of diagnostic kits used to test for microbial contamination in liquid products for the pharmaceutical, personal care, dairy and beverage industries. Harwood Private Equity acquired the company in 2009 and, as part of the business plan, divested two non-core divisions: Analytical Services, a provider of outsourced laboratory services, and In-Vitro Technologies, a global leader in the supply of cryo-preserved human liver cells in 2011 and 2013 respectively.

12 June 2015

Harwood Private Equity IV L.P. closes on £152.5 million

We are pleased to announce the first and final closing of Harwood Private Equity IV L.P. (“HPE4”). The fund closed with £152.5 million on 12 June 2015. Jeremy Brade of Harwood Private Equity, said: “We are delighted to have raised HPE4 in a single closing after strong support from our existing limited partners and new institutions. We very much look forward to investing the fund in strong companies, pursuing the same strategy that has succeeded in our predecessor funds.”

11 October 2013

Harwood Private Equity exits Orthoproducts

Harwood Private Equity achieved a full exit from its position in Orthoproducts Limited through a sale of the company to a trade buyer on 23 July 2013, creating a return of 3.3x cash multiple and an IRR of 28%. Orthoproducts is an industry leader in the global orthopaedic implant and equipment market and has 45% market share of the world's best quality, ultra-high molecular weight polyethylene for knee and hip-joint replacements. Harwood Private Equity acquired the business in 2008.

4 September 2013

TeamRock wins award

TeamRock won an award at the Scottish Business Insider Deals & Dealmakers Awards ceremony held in Glasgow on 4 September. Following its purchase of two leading rock music magazines from Future Plc and the development of a digital radio station, TeamRock won ‘Small to Mid-sized Company Deal of the Year’ - the category for a Scottish-based company with a turnover of less than £20 million. TeamRock is headquartered in Glasgow. Commenting on the award, Timothy Sturm of Harwood Private Equity, said “We’re delighted that our investment in TeamRock has generated this award. Our decision to invest was based on the ground-breaking, market-disruptive nature of TeamRock’s business model and the quality of its management team, with whom we are looking forward to a close and fruitful relationship.”

4 September 2013

Harwood Private Equity invests in Cyprotex

Cyprotex PLC is a leading pharmaceutical contract research company. It is an outsourced provider of in-vitro and in-silico analysis of the activity of pharmaceutical compounds, specialising in Absorption, Distribution, Metabolism and Excretion and toxicity (“ADME-Tox”) testing. Harwood Private Equity invested in a convertible and notionally convertible loan note in addition to its 29.9% holding of the ordinary shares of the AIM-listed company. Harwood has appointed its sector-specialist operational adviser, Ian Johnson, as chairman. Christopher Mills has also joined the board. Timothy Sturm of Harwood Private Equity, said: “We are pleased to have found a creative way of investing in an excellent company. We look forward to backing its management team with our capital and influencing the company’s path to its objective of achieving significant growth”.