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Graphite Capital

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Graphite Capital
Company typeUK LLP
IndustryPrivate Equity
PredecessorForeign & Colonial Ventures Ltd.
Founded1981; 43 years ago (1981)
HeadquartersLondon, W1
United Kingdom
Key people
Markus Golser, Andy Gray
ProductsInvestments, private equity funds
Total assets£1.2 billion
Websitewww.graphitecapital.com

Graphite Capital is a private equity firm focused on mid-market leveraged buyout investments, primarily in the UK. The group manages around £1.2 billion for institutional investors, with the most recent fund raising over £500 million in 2018.[1] Since 1991, the firm has backed almost 100 management teams through various investments.

The firm has managed private equity funds since 1981 and in 2001 became fully independent. The firm has a single office in Air Street in London's West End. The firm's Managing Partners are Andy Gray and Markus Golser, who joined in 1992 and 1997 respectively.

History

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Graphite Capital was originally part of F&C Asset Management and was known as Foreign & Colonial Ventures Ltd. The firm remained a subsidiary of F&C Asset Management until 2001, when the Graphite team completed a management buyout.[2][3][4]

The first fund to be managed by Graphite Capital was F&C Enterprise Trust, a UK listed vehicle, which it renamed Graphite Enterprise Trust when the management buyout took place in 2001. The fund became ICG Enterprise Trust when the management contract was transferred to Intermediate Capital Group in 2016.[5]

Investments

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The firm's ninth and most recent fund of £500 million raised in 2018[6][7] has backed the following companies, including:

  • In October 2023, Storal, a national childrens nursery group in England founded in 2016, together with OakNorth Bank[8][9]
  • In 2023, Independence Products Limited, a supplier of prescribed infection prevention products
  • In October 2022, Digital Space, an information technology and cloud services provider formerly known as Timico,[10][11] acquired from Horizon Capital[12][13]
  • In November 2021, Opus Talent Solutions –  a Redcliffe based international company specializing in recruitment for the technology and renewable energy markets[14][15]
  • In July 2021, Wonderbly - a personalised children's book specialist formerly known as Lost My Name[16][17]
  • In November 2020, London-based Babble, a specialist communications technology provider to medium-sized companies, acquired from Lloyds TSB Development Capital[18][19]
  • In October 2020, Ten10, an independent quality engineering and software testing consultancy based in London, acquired from Livingbridge[20][21]
  • In August 2019, Horizon Care and Education, a provider of specialist care for children and adolescents, based in Cannock, England[22][23]
  • in May 2019, NRS Healthcare, a provider of mobility and disability aids and services[24]

The firm's eighth fund, which was raised in 2013 and invested until 2018, has backed the following companies including:

  • City & County Healthcare - a provider of home care services in the UK[25]
  • ICR Group - a provider of repair and maintenance services to the energy sector[26]
  • nGAGE Specialist Recruitment (formerly Human Capital Investment Group) - a recruitment business serving a range of niche areas within the public and private sectors[27]
  • Trenchard Aviation - a civil aircraft maintenance business focusing on cabin services[28]
  • New World Trading Company - a pub restaurant group[29]
  • Beck & Pollitzer - an industrial machinery installation and relocation specialist[30]

Graphite's seventh fund, which was raised in 2007[31] and invested until 2013, backed companies including:

  • U-POL - a manufacturer and distributor of automotive refinishing products
  • Education Personnel - a provider of supply teachers and teaching assistants to state schools in the UK[32]
  • Alexander Mann Solutions - a provider of recruitment process outsourcing[33]
  • National Fostering Agency - an independent children's fostering agency
  • London Square - a house builder focused on prime sites within the M25[34]
  • Willowbrook Healthcare - a developer and operator or premium elderly care homes[35]

The seventh fund's current portfolio also includes:

Earlier investments include Corbin & King - the operator of signature restaurants in London,[38] the Groucho Club which was sold in July 2015,[39] Dominion Oil & Gas,[40] NES Group,[41] Wagamama[42] and Park Holidays.[43]

Divestments

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In August 2022, Graphite sold YSC Consulting, a provider of leadership consulting and management assessment, acquired from Livingbridge in 2017,[44] to Accenture.[45][46] In June 2022, the firm sold Random42, a producer of digital medical animation,[47] to The Lockwood Group, a US medical communications company.[48] In July 2021, the firm sold U-POL, a manufacturer and distributor of fillers, coatings and aerosols,[49] to US firm Axalta Coating Systems.[50]

References

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  1. ^ "Graphite Capital raises over £500m for its ninth UK mid-market fund". Graphie Capital. December 2018.
  2. ^ F&C Ventures bought out by management. Money Marketing, April 26, 2001
  3. ^ Management to buy F&C Ventures. The Telegraph, Apr 22, 2001
  4. ^ F&C Ventures becomes Graphite Capital. Investments & Pensions Europe, Apr 24, 2001
  5. ^ "Graphite Capital sells fund investment business to Intermediate Capital Group". www.privateequitywire.co.uk. 24 December 2015.
  6. ^ "UK PE firm Graphite Capital brings in £470M for 9th fund". S&P Global. 25 July 2018. Retrieved 19 October 2023.
  7. ^ "UK PE firm Graphite Capital brings in £470M for 9th fund". Private Equity Wire. 24 July 2018. Retrieved 10 October 2023.
  8. ^ "Graphite Capital backs children's nursery group Storal". Real Deals. Retrieved 2024-02-04.
  9. ^ "OakNorth and Graphite Capital back nursery group". insider Media. 18 October 2023. Retrieved 4 February 2024.
  10. ^ "Timico reborn as Digital Space". Comms Business. 2021-06-29. Retrieved 2023-10-25.
  11. ^ McHugh, Marian (2021-06-29). "Timico Rebrands as Digital Space". UC Today. Retrieved 2023-10-25.
  12. ^ Lindholm, Nina (2022-10-10). "Graphite Capital snaps up Digital Space from Horizon Capital". PE Hub Europe. Retrieved 2023-10-25.
  13. ^ "Newark firm changes private equity owners | TheBusinessDesk.com". East Midlands. 2022-10-06. Retrieved 2023-10-25.
  14. ^ Baker, Hannah (2021-11-18). "Bristol-headquartered recruitment company acquired in major deal". Business Live. Retrieved 2023-11-01.
  15. ^ "Graphite Capital acquires Opus Talent Solutions in MBO | Recruiter". www.recruiter.co.uk. Retrieved 2023-11-01.
  16. ^ "Printweek - Wonderbly plans further expansion under new owner". Printweek. Retrieved 2023-10-22.
  17. ^ "Graphite Capital buys fast-growing personalised children's book business Wonderbly | AltAssets Private Equity News". 2021-07-27. Retrieved 2023-10-22.
  18. ^ "Graphite Capital Acquires Babble | Mergr M&A Deal Summary". mergr.com. Retrieved 2024-02-05.
  19. ^ "Graphite Capital acquires Babble in GBP90m transaction". Private Equity Wire. 10 November 2020. Retrieved 5 February 2024.
  20. ^ LCAP. "Graphite Capital acquires Ten10 from Livingbridge". Drax Executive. Retrieved 2024-02-05.
  21. ^ "Livingbridge sells Ten10 to Graphite Capital". Private Equity Wire. 21 October 2020. Retrieved 5 February 2024.
  22. ^ "Graphite Capital Acquires Horizon Care | Mergr M&A Deal Summary". mergr.com. Retrieved 2024-02-05.
  23. ^ "Notable recent UK deals". Private equity activity. Retrieved 2024-02-05.
  24. ^ "NRS Healthcare, Acquired by Graphite Capital on May 5th, 2019 | Mergr". mergr.com. Retrieved 2023-10-22.
  25. ^ "HealthInvestor - Article: Graphite Capital backs City & County MBO". www.healthinvestor.co.uk.
  26. ^ "Graphite Capital backs ICR MBO". www.privateequitywire.co.uk. 14 March 2014.
  27. ^ Mumford, Kane (26 November 2014). "Graphite backs MBO of HCIG - Real Deals". realdeals.eu.com.
  28. ^ Langworth, Hannah (4 December 2015). "Graphite backs Aero Technics - Real Deals". realdeals.eu.com.
  29. ^ "Living Ventures' New World Trading Company sold to Graphite Capital". www.bighospitality.co.uk.
  30. ^ "Graphite Capital acquires industrial installation specialist Beck & Pollitzer". www.privateequitywire.co.uk. 20 September 2016.
  31. ^ "Graphite closes seventh UK mid-market fund on £475m - AltAssets Private Equity News". www.altassets.net. 30 November 2001.
  32. ^ "Graphite Capital sells supply teaching specialist Education Personnel to ICG". www.privateequitywire.co.uk. 12 May 2014.
  33. ^ "Graphite Capital sells Alexander Mann Solutions for 260m - Recruitment International". www.recruitment-international.co.uk.
  34. ^ "Graphite sells London Square to Ares Management for GBP100m". www.privateequitywire.co.uk. 4 July 2014.
  35. ^ "HealthInvestor - Article: Health Care REIT backs MBO of Willowbrook Healthcare". www.healthinvestor.co.uk.
  36. ^ "Back to school for Graphite as it backs Explore Learning". www.growthbusiness.co.uk. 23 August 2012.
  37. ^ Rankin, Jennifer (26 August 2013). "High steaks: Hawksmoor restaurant chain in private equity sale". the Guardian.
  38. ^ "Graphite exits Corbin & King investment". Private Equity Wire. 18 December 2017.
  39. ^ Cotterill, Joseph (18 June 2015). "Groucho Club sold by private equity firm". Financial Times. Retrieved 3 September 2015.
  40. ^ "Dominion Gas sale sees Graphite Capital hit four exits in 12 months". www.growthbusiness.co.uk. 30 May 2013.
  41. ^ "Graphite Capital sells NES Global Talent". 5 October 2012.
  42. ^ "Wagamama gobbled up in £102m deal". BBC. 17 June 2005.
  43. ^ "Graphite Capital sells Park Holidays UK - PE Hub". www.pehub.com. 12 November 2013.
  44. ^ "Graphite backs GBP72m MBO of leadership consultancy YSC". Private Equity Wire. 30 October 2017. Retrieved 12 November 2023.
  45. ^ Cook, James (2022-08-15). "Graphite sells YSC Consulting to global professional services firm Accenture - Business Leader News". Business Leader. Retrieved 2023-11-12.
  46. ^ "Macfarlanes advises Graphite Capital on sale of YSC Consulting - Macfarlanes". www.macfarlanes.com. Retrieved 2023-11-12.
  47. ^ "Graphite acquires medical animation producer Random42 from Vespa Capital". PE Hub. 21 July 2017.
  48. ^ "Graphite Capital sells Random42 to The Lockwood Group". Private Equity Wire. 6 June 2022. Retrieved 16 November 2023.
  49. ^ Ltd, Insider Media. "Graphite Capital backs £130m U-POL buy-out". www.insidermedia.com.
  50. ^ Latham, Mark. "Graphite Capital sells U-Pol for £428m". www.penews.com. Retrieved 2023-11-22.
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