Four businesses based in the North of England, all supported by private equity and venture capital, have been recognised for their exceptional performances in 2021.
Veincentre (Stoke), Cloud Technology Solutions (Manchester), Reconomy Group (Telford) and Sterling Pharma Solutions (Dudley) 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 in Manchester on Tuesday 22 November.
Michael Moore, BVCA Director General, added:
“Private equity and venture capital are supporting businesses across Northern 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 sustainably with the funding, business expertise and hands-on management approach synonymous with private capital.”
Peter Terry, Partner at Grant Thornton said:
"The Vision 2022 awards show how private equity investment is bringing the best out of business across the North West & Midlands and these three companies have, over the past year, gone from good to great by innovating, growing sustainably and creating jobs and wealth across our region.
"Private equity is an essential element of the funding landscape in the UK mid-market where we are most active and we are delighted to support the awards programme and to celebrate the superb contribution the management teams of Reconomy Group, Veincentre, Sterling Pharma Solutions and Cloud Technology Solutions."
Read the judging booklet
The recognised firms
Veincentre, headquartered in Stoke-On-Trent, is the UK’s largest specialist medical group focused on treating varicose veins and their causes. The company has been supported by Palatine’s Impact Investment Fund since 2017 which has helped with the expansion of its physical footprint, taking the business from 6 to 22 clinics, whilst maintaining focus on affordable and high-quality care.
The judges recognised Veincentre for both incredible growth and a very strong ESG agenda. The judges also noted “Veincentre has an agreement in place with the NHS to provide services to NHS patients and, during Covid, was able to mobilise and provide flexible services for patients with long waiting times. This strong relationship with the NHS - and soon other trusts – twinned with the offer of affordable treatment benefits a far wider spectrum of the population.”
Cloud Technology Solutions
Cloud Technology Solutions, based in Manchester, is one of Google’s largest dedicated cloud partners in Europe and, along with its sister company, Cloud M, are global market leaders. The business has been supported by NorthEdge Capital since 2018 and CTS’ “remarkable growth” as a result of this investment – in terms of EBITDA, turnover and employee headcount – was highly praised by the judging panel.
Reconomy Group, based in Telford, is a provider of outsourced services such as waste and resource management, recycling, and environmental compliance. The Group have 26 global offices in over 80 countries and comprises three core divisions: recycle, comply and reuse. EMK Capital LLP invested in 2017 to support the growth ambitions of Reconomy and recognised the immense opportunity to continue to digitise a conservative UK waste management industry.
The judges said: “Reconomy is a significant disruptor in waste management and we were impressed by the fact that it is rare to see a business of this scale in the regions. The creation of a unicorn in the waste management business, and Reconomy’s obvious ESG credentials and commitments, really stood out for us.”
Sterling Pharma Solutions
Sterling Pharma Solutions, headquartered in Dudley, is a service provider to the pharmaceutical industry. It specialises in complex small molecule chemical synthesis, producing Active Pharmaceutical Ingredients (API) and High Potency (HPAPIs). The business has been backed by GHO Capital since 2019 and with their support has both expanded internationally and focused on been awarded for its sustainability focus.
The judges recognised Sterling Pharma Solutions for its strong organic growth, its ESG initiatives and EcoVadis accreditation, and how the business puts innovation at its core.
Read the judging booklet
You can read more about the recognised businesses in the judging booklet here, or more about Vision 2022 on its webpage, here.
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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.