BVCA announce winners of Wales Management Team Awards

The British Private Equity & Venture Capital Association (BVCA) is pleased to announce the winners of the Wales Management Team Awards 2016, our annual celebration of excellence in private equity and venture capital, produced in association with Grant Thornton UK LLP.
Now in its eighth year, the BVCA Management Team Awards recognise and reward the achievements and success of businesses across the UK which are backed by private equity and venture capital funds.
All the winners will be announced and presented with their prize tonight as part of the annual BVCA Wales and South West Dinner held at the Bath Assembly Rooms. They will now be entered into the national final to compete against other UK regions before the national winners are announced at the BVCA Gala Dinner on 8 December in London.
The full list of winners for the BVCA Wales Management Team Awards 2016:
Winner |
Backed by |
Category |
Nuaire | Electra* | Large Company Team |
Frontier Medical Group | Kester Capital | Mid-Market Team |
Diurnal | Finance Wales | Venture or Growth Company Team |
Peter's Food Service | NBGI Private Equity | Social Responsibility Team |
Martin Whitaker, Diurnal | Finance Wales | CEO |
*sold to Polypipe Group in August 2015
David Staziker, Chair of the Wales judging panel and Technical Director of Finance Wales, said: “Venture capital and private equity have proven once again how important they are to the Welsh business community. All of this year’s winners of the BVCA Wales Management Team Awards are fantastic illustrations of companies performing at the top of their game and making an impact not just on the local economy, but the national one too. Talent, hard-work and innovation combined with the right support can achieve great things, and all of the winners should be proud to be carrying the flag for Wales in the national awards in December.”
James Roberts, who leads Grant Thornton's corporate finance team in Cardiff and was a member of the awards judging panel, said: "As a region, we thoroughly enjoyed being part of the BVCA Management Team Awards. We met with great companies and we were able to have insightful and inspiring conversations about their successes. The winners represent the best of the diverse and aspiring talent within Welsh companies, demonstrating the strengths and credentials to stand out, both locally and nationally. Congratulations to all of the nominees and winners."
The winners are:
Large Company Team
Nuaire
Backed by Electra
Nuaire is the UK market leader in energy-efficient domestic and commercial ventilation solutions, and its fans are used in all types of commercial and residential buildings, infrastructure projects and numerous applications by original equipment manufacturers in the UK and around the world.
Based in Caerphilly and operating since for over 50 years, its products are available in over 40 countries, employs over 400 people and has a customer base of 5,000.
Electra Private Equity backed a management buyout in 2007 from ECI Partners, before selling in August 2015 to Polypipe Group.
Judges comment: “The management team at Nuaire has delivered excellent growth and financial performance consistently. They operate in a competitive global market but have invested effectively in product features which set them apart, such as low noise ventilation and very low energy use ventilation in support of environmental targets.”
Mid-Market Team
Frontier Medical Group
Backed by Kester Capital
Frontier Medical Group is a Blackwood-based manufacturer and supplier of medical and healthcare products.
Established in 1966 as a family business producing plastic moulding, before moving into disposable sharps containers. The group was incorporated in 2013 following a management buyout backed by Kester Capital who were replaced by a new management team under the leadership of Simon Jackson.
The group has since seen continued increase in revenues and significant improvement in efficiency and profitability. Group exports amount to 25% of total revenues, and there is a strong focus on R&D driven product development and market penetration as well as further market development overseas.
Judges comment: “Simon Jackson has led a new team at Frontier since the MBO in 2013, which has transformed the business in terms of growth but also brought in very significant changes in new product development, production efficiency, and development of new export markets. The transformation has been hugely impressive.”
Venture or Growth Company Team of the Year
Diurnal
Backed by Finance Wales
Diurnal is Cardiff-based pharmaceutical company creating innovative, high-value hormone therapeutics and advanced treatment regimens of approved drugs.
Established in 2004 as a spin out from Sheffield University and with the backing of Finance Wales, Fusion IP and Sarum Partners, Diurnal’s management team possesses many years of experience within the pharmaceutical sector, and its lead programme aims to solve patients' needs in adrenal diseases that result from deficiency of the essential hormone cortisol.The third phase of clinical trials are due to complete this year with a view to commercialise within two years.
The company listed on AIM in December 2015, raising £30m.
Judges comment: “The judges were impressed with the development of this new technology platform through into phase III trials and a successful AIM fundraising with premier life science investors. The management team has shown great skill in taking products from lab towards commercial use fast and cost-effectively.”
Social Responsibility Team
Peter's Food Service
Backed by NBGI Private Equity
Headquartered in Bedwas, South Wales, Peter's Food Service manufactures and distributes savoury pastry products that are sold at outlets including supermarkets, football grounds and fish and chip shops.
Peter's services over 13,500 customers annually, and produces over 3 million pastries every week. With almost 900 employees, it has secured licencing agreements with well-known brands such as Heinz, Sharwood's and Bisto.
It is heavily involved with the local community. Through its Peter’s Slice of the Pie and Pot of Gold Community Funds it has funded the purchase of sports equipment for local schools and clubs in collaboration with Education Foundation, along with a number of other initiatives throughout local communities.
Judges comment: “Peter’s Food has been heavily involved in their local community for many years, with their community funds supporting a wide range of different local charities and initiatives. The judges were impressed by this long-standing commitment to their local area.”
CEO of the Year
Martin Whitaker, Diurnal
Backed by Finance Wales
Martin Whitaker is CEO of Diurnal with overall responsibility for delivering the Group’s commercial objectives and joined in January 2008.
He has over 18 years of experience in the pharmaceutical industry and has led the Diurnal team to progress the company’s lead products, Chronocort® and Infacort®, into pivotal Phase III clinical trials.
A biochemist by background with a PhD in Pharmaceutical Science from the University of Nottingham and a BSc (Hons) in Biochemistry from Bristol University, Martin is also a director of D3 Pharma and has worked for Fusion IP where he had responsibility for commercialising research from the Medical School at the University of Sheffield.
Judges comment: “Martin has been with Diurnal from its earliest days. A bench scientist by training, he has transitioned into an outstanding all-round CEO, as shown when some of the largest specialist life-science institutions have been happy to back him in the recent AIM floatation.”
Notes to editor
- The BVCA Management Team Awards, produced in partnership with Grant Thornton, are the only awards to celebrate the achievements of UK private equity and venture capital-backed management teams. The awards consists of two rounds: regional and national. Each of the eight regions has a judging panel which decides on the winners following nominations from BVCA members and a comprehensive due diligence programme with in-depth interviews. The regional winners were announced in May and can be found here. All were automatically entered into the national final. For more information about the award categories please click here.
- The Wales judging panel consists of: David Staziker (Chair), Finance Wales; Guy Davies, WestBridge Capital; Julian Dennard, Technology Venture Partners; Peter Latham, LDC; Paul Oldham, Business Growth Fund; Alistair Wardell, Grant Thornton.
- The British Private Equity & Venture Capital Association (BVCA) is the industry body for the UK private equity and venture capital industry. The BVCA has over 500 member firms, representing the vast majority of UK-based private equity and venture capital firms and their advisers.
- Grant Thornton is one of the world’s leading organisations of independent assurance, tax and advisory firms. These firms help dynamic organisations unlock their potential for growth by providing meaningful, forward-thinking advice. Proactive teams, led by approachable partners in these firms, use insights, experience and instinct to understand complex issues for privately owned, publicly listed and public sector clients and help them to find solutions. More than 35,000 Grant Thornton people, across over 100 countries, are focused on making a difference to clients, colleagues and the communities in which we live and work. The UK Grant Thornton member firm provides services to over 40,000 privately held businesses, public interest entities and individuals. It is led by more than 185 partners and employs more than 4,200 of the profession's brightest minds. Find out more at www.grant-thornton.co.uk