Private Equity

UK Mid-Market Deal Digest (July 6th 2024)

A recap of UK mid-market private news - week of July 1st - 6th 2024

AquilineCapital snaps up majority stake in Isio

July 5, 2024

Aquiline Capital has acquired a majority stake in Isio Group, a UK-based pensions, reward, and benefit advisory firm, from ExponentPrivate Equity. This investment aims to support Isio's growth through innovation, expanding core services, and developing new practices via targeted mergers and acquisitions, and talent acquisition. Since its launch in 2020, Isio has achieved consistent double-digit organic growth and has a workforce of1,200 across ten UK offices.

Aquiline's investment portfolio also includes SmartPension, Wealth at Work, Landytech, Ascensus, Mirador, and SageView. Isio's management will retain a significant minority stake, and both companies express optimism about future growth and development opportunities.

PrivateBanker International

My Property Box secures investment from BGF

July 4, 2024

My Property Box, a Darlington-based residential estate agency, has secured a multimillion-pound investment from BGF to fuel its expansion plans. Founded 12 years ago, the company manages properties in the North East, targeting both professional and student markets. Since 2019, My Property Box has acquired 10 companies and considered further expansion into Leeds, West Yorkshire, and Cumbria. With the new investment, the company aims to advance its buy-and-build strategy.

BGF investor James Baker and newly appointed non-executive chair Richard Smith will join the board to support this growth. CEO Ben Quaintrell expressed confidence in BGF as a long-term partner to help capitalize on the fragmented lettings market in the North East.

Business Live

Keensight Capital supports CatSci for acquisition of Reach Separations

July 3, 2024

CatSci, a UK-based pharmaceutical manufacturing process innovator, has acquired Reach Separations, a specialist in chromatography services, with support from Keensight Capital. This acquisition enables CatSci to offer comprehensive chromatography services from discovery through manufacturing for small molecules and synthetic therapeutics. The move enhances CatSci’s capabilities in analytical development, providing end-to-end support for complex regulatory and analytical challenges.

Reach Separations specializes in supercritical fluid and high-performance liquid chromatography, and the acquisition marks a significant milestone in CatSci's growth strategy in chemistry, manufacturing, and controls (CMC).

Outsourcing Pharma

Hawksmoor restaurant chain reportedly looking for buyer

July 3, 2024

Hawksmoor, a high-end chain of steakhouses, is up for sale in a deal that could value it at £100 million. Established in 2006, Hawksmoor has seven restaurants in London and others in Edinburgh, Liverpool, and Manchester. The chain is majority-owned by private equity firm Graphite Capital since 2013, which has hired US investment bank Stephens to manage the sale. Founders Will Beckett and Huw Gott, who retain a minority stake, will continue leading the company.

The sale comes as Hawksmoor seeks to expand its international presence, with new locations in New York, Chicago, and Dublin. Beckett emphasized the strong relationship with Graphite and the potential for further opportunities with the US investment community. Hawksmoor is renowned for its high-quality steaks, receiving praise from critics like Giles Coren of The Times.

CityAM

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