Private equity-focussed household funding agency Souter Investments has acquired broadband supplier TalkTalk for £1.1bn.
Owned by Stagecoach Group co-founder Sir Brian Souter, its new investments vary from sustainably sourced vogue to UK home land and cellular providers.
Souter Investments fashioned half of a Penta Capital-led syndicate which accomplished the deal to take TalkTalk non-public in March.
TalkTalk serves greater than 4 million prospects and operates Britain’s largest unbundled broadband community.
Under new possession, the prevailing TalkTalk administration group – led by Sir Charles Dunstone – will proceed to strengthen the enterprise.
Since formation in 2006, Souter has invested virtually £500m in additional than 60 unquoted firms, both because the lead investor or as a associate for different monetary sponsors. It at the moment has a portfolio of investments in additional than 30 non-public companies.
An replace from the agency famous that it has additionally partnered with retail govt and investor Ben Barnett to finish a buyout of sustainably-sourced vogue firm Celtic & Co.
It is aiming to capitalise on the corporate’s established e-commerce platform and rising worldwide buyer base, whereas additionally accelerating funding into product volumes, new product growth and third-party retailer relationships.
Celtic & Co’s founders Nick and Kath Whitworth will proceed to be concerned with the enterprise. James Williams has joined as chief govt.
The funding agency additionally acquired US voluntary carbon market specialist Natural Capital Partners, in a merger with its current portfolio firm ClimateCare, to supply options for firms and organisations trying to meet local weather objectives.
The transaction was led by Stephen Green, Richard Tudor, and Pierre-Edouard Harant at Averna Capital, the European mid-market non-public fairness home.
Climate Care and Natural Capital Partners serve greater than 500 shoppers throughout six continents and have entry to upwards of 600 tasks lowering and eradicating carbon emissions, throughout 56 international locations.
Souter has additionally backed European mid-market non-public fairness home Fremman Capital in its acquisition of a majority stake in VPS – a marine gasoline testing and advisory providers firm, which assists the worldwide delivery fleet confirm gasoline high quality to fulfill environmental laws.
Headquartered in Rotterdam, VPS offers its providers globally by way of 5 laboratories, with samples shipped and examined from anyplace on this planet.
The firm has made two bolt-on acquisitions within the final month. The first, PGI Industries in Southeast Asia, expands VPS’ presence within the energy and renewables sector, and the second, Norwegian primarily based Yxney Maritime, improves VPS’s information providing.
Meanwhile, an exit of Souter’s funding in Pet Network International follows the sale of the enterprise by The Rohatyn Group (TRG) to A&M Capital Europe.
Souter backed TRG to create Pet Network in 2018 by way of the acquisition and merger of three distinct pet provides companies – Pet Centar, Animax and Mr. Pet.
Pet Network’s administration group, led by chief govt Ljiljana Markov Medugorac, reworked Pet Network into one of the main pet care platforms in southeast Europe, working throughout Croatia, Romania, Slovenia, Serbia and Bulgaria.
Supported by Colin Clark, Stepan Karpukhin and Harold Chatelus from TRG, development was achieved by way of add-on acquisitions, new retailer openings, on-line channel enlargement and an enhanced personal manufacturers portfolio.
The transaction is predicted to shut within the third quarter of 2021. Terms haven’t been disclosed.
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