Three businesses from across Yorkshire and the North East have been recognised for their exceptional performances in 2021.
Faradion, based in Sheffield, iamproperty, based in Newcastle, and Rosemont Pharmaceuticals, based in Leeds, have received this recognition as part of the British Private Equity and Venture Capital Association’s (BVCA) ‘Vision 2022’ initiative.
Vision 2022, produced in collaboration with Grant Thornton, shines a light on the best management teams backed by the BVCA’s private equity and venture capital members.
Judging criteria includes growth, competitiveness, innovation and ESG factors, and judges consider the firms’ focus on the future as well as past performance.
Representatives from each of the recognised companies received a trophy at a ceremonial dinner yesterday evening in Leeds.
Michael Moore, BVCA Director General, said:
“Private equity and venture capital are supporting businesses across Yorkshire and North East England to innovate, grow, create jobs and bring value to the communities they operate within.
“The companies recognised are leading examples of how a business can grow with the funding, business expertise and hands-on management approach synonymous with private capital.”
The recognised firms
Faradion is one of the leading global battery technology companies and has been supported by venture capital firm, Mercia, since early 2017. Its sodium-ion technology provides significant advantages compared to lithium-ion technology, including greater sustainability, safe transport and storage capability, and exciting opportunity for scalability.
The judges identified Faradion as being a first mover in an area that will lead to cheaper, cleaner energy provision, their growth story and the firm’s continuous innovation.
James Quinn, CEO of Faradion, said:
“Faradion has been one of the first to champion sodium-ion battery technology. Mercia was an early investor in Faradion and held a position on the board since its inception and up until the acquisition by Reliance in December 2021. Sodium-ion batteries offer the UK an opportunity to take a global market-leading role. By building on current advantages, the UK can establish a large-scale domestic manufacturing capability creating new jobs, as well as economic benefits across the wider supply chain."
(CEO of Faradion accepting recognition at the BVCA Yorkshire and North East Dinner)
iamproperty Group is the UK’s largest residential auction service and has been supported by private equity firm, LDC, since 2019. Its digital platform, which was expanded as a result of LDC’s investment, allows a buyer to complete within 56 days with a less than 2% fall through rate – far in advance of the industry average of 125 days and 30% fall through rate.
The judges recognised iamproperty’s strength as a great example of innovation, growth and adding value in a competitive and complex market.
Michele Gettins, CMO, said:
“The investment has enabled us to grow at great scale and pace - one which we could never have imagined previously. Through this investment, we’ve been enabled to stay completely aligned to our corporate vision and values, working hard to modernise the UK property market, and continuing to add real value for our Partner Agents across the country.”
(CEO of iamproperty Group accepting recognition at the BVCA Yorkshire and North East Dinner)
Rosemont Pharmaceuticals is Europe’s leading liquid pharmaceuticals business, producing medicines for patients suffering with swallowing difficulties, both in the UK and around the world. PE firm, Inflexion, purchased Rosemont from its parent company midway through 2020. With private equity funding and support, Rosemont has delivered rapid growth, opened a new state-of-the-art R&D facility at its site in Leeds, overhauled their IT systems and increased their sales by 49%.
The judges praised Rosemont’s success, which demonstrated what can be achieved across all areas of a business with new independence and new backing.
CEO, Howard Taylor, said:
“Bringing in Inflexion as an equity backer has given the management team at Rosemont, and the entire business, the resources, confidence, and freedom to stand on our own two feet and really take the business to the next level.”
(CEO of Rosemont Pharmaceuticals accepting recognition at the BVCA Yorkshire and North East Dinner)
You can read more about the recognised businesses in the judging booklet here, or more about Vision 2022 on its webpage, here.
Read the judging booklet
For media enquiries please contact:
Will English, External Communications Manager
Notes to editors
About the British Private Equity & Venture Capital Association
The BVCA, as the representative body for private equity and venture capital, connects institutional investors, fund managers, companies, advisers and service providers together, with our membership currently comprising more than 700 businesses from across the private capital ecosystem. This includes more than 325 PE and VC firms, 100 institutional investors and 220 professional services firms.
Private capital drives growth – providing the funding, expertise and long-term view that enables companies to innovate and flourish. Our mission is to advocate the transformative nature of the private equity and venture capital community.