27 Apr 2017

BVCA announces Wales Management Team Awards shortlist

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Companies shortlisted in the British Private Equity & Venture Capital Association (BVCA) Management Team Awards 2017 for Wales have now been announced.

Produced in association with Grant Thornton UK LLP, the awards recognise and reward brilliant businesses up and down the country that have been backed by private equity and venture capital investors, as part of our annual celebration of UK companies.

The regional winners will be awarded at the Wales and South West Dinner in Bath on 4 May, as part of the BVCA National Dinner Series. They will then go forward into the national final to compete against our other regions, before the winners are announced at the BVCA Gala Dinner on 30 November in London.

The shortlist for the Wales Management Team Awards 2017:

Cellnovo

backed by: Nesta


The Cellnovo System is the world's first mobile diabetes management system. It includes a micro-pump for insulin delivery, an activity monitor and a wireless touchscreen handset.

Sophie Baratte and her team are managing the transition from development to commercialisation for this integrated medical device solution for Type 1 Diabetes. The judges were impressed by their focus and success in securing partnerships with Roche and Flex, at the same time achieving a €30m placing on Euronext and seeing their market cap increase by 50%.


W2 Global Data Solutions

backed by: Finance Wales


W2 Global Data provides clients with online screening solutions, including ID verification, anti-money laundering checks, and database cross-referencing.

This business has developed software for online verification of client information, including age, ID, KYC and AML. In 2016 the team showed their ability to build trusted relationships with large corporate clients and scale use of the platform to in excess of 10m screenings per month. The opportunity for further growth is very large.


Direct Healthcare Group

backed by: NorthEdge Capital


Direct Healthcare Group provides healthcare professionals around the world with clinically effective patient care solutions.

The group has an established position supplying pressure care equipment into the NHS and the care sector. This is an integrated manufacturing business and the judges commented on the continuous drive from the management towards efficiency but also innovation and product improvement.


Simulity Labs

backed by: Foresight VCT


Simulity is a software company that specialises in embedded communications software and related server-based applications.

Stephane Fund and his team built this business from start-up to be a supplier of programmed SIM modules, but then as this market matured they have transitioned the business over the last two years to become a leading eSIM software provider. The judges applauded the team’s vision and skill in making this transition.


Frontier Medical

backed by: Kester Capital


A manufacturer and supplier of medical and healthcare products.

Since the MBO in 2013, Simon Jackson and his team have improved this medical products business in all areas, particularly in introducing modern management methods, developing the culture and fostering innovation. The team have shown how much additional potential could be unlocked from the business, resulting in growth in revenues and enhanced profitability, whilst following a robust social responsibility approach to the environment.


Henry Howard Finance

backed by: Cabot Square Capital


Henry Howard Finance is a one of the UK’s leading business finance providers for the SME marketplace, and the largest independent finance house in Wales.

A strategic growth investment in 2014 from Cabot Square has enabled this equipment finance business to realise its ambition to move from brokerage to providing finance off its own balance sheet. The £50m funding line from the British Business Bank in 2016 was a welcome validation of their strategy and will fuel further growth.


Vista Retail Support

backed by: Westbridge Capital


The UK’s leading IT service and support organisation dedicated to the retail market.

The judges were impressed with the skill with which Richard Cottrell and his team have developed this business from an EPOS support provider to a broader, more strategic provider of support services across retail, hospitality and leisure in the UK and Europe. The quality of their service was shown in 2016 when they achieved 100% contract renewal whilst implementing significant business efficiencies.


Alcumus

backed by: Inflexion Private Equity


This tech-enabled provider of business assurance and compliance risk management advice has grown rapidly since Inflexion invested in October 2015. The partnership with Inflexion has enabled six acquisitions to date and seen rapid growth in revenue and profit. The judges saw this as a great example of a skilled management team and their investor working together to potentially create significant value.


NoteMachine

backed by: Corsair Capital


This cash machine network is one of the largest in the UK and abroad.

Since founding this business 10 years ago, Peter McNamara has built a vertically integrated operator of over 10,000 ATM’s. The business has a broad, professional management team with low staff turnover. The business model has had to change from predominantly surcharging ATM usage to a vertically integrated ATM business covering all aspects of cash delivery. By continuous expansion and also deepening its range of services, the team have delivered consistent 25% EBITDA growth.


Target Group

backed by: Pollen Street Capital


Target Group provides software-driven servicing for loans, investments and insurance across the financial services sector.

Target was acquired in 2012 by Pollen Street Capital, who worked with a new management team on a complete restructure of the business following a difficult initial period post deal. Since then the activities of the group in supporting financial services organisations have expanded significantly. Target now supports over 50 financial services clients across the world, on boarding 13 new client portfolios in 2016, the year they achieved a £112m exit for Pollen Street to Tech Mahindra.


Notes to editor
  1. The BVCA Management Team Awards, produced in association with Grant Thornton UK LLP, are the only awards to celebrate the achievements of private equity and venture capital-backed management teams. There are eight regions in total, each with their own judging panel, and all winners are automatically forwarded to the national final, the results of which will be presented at the BVCA Annual Gala Dinner on 30 November in London. Please click here for more information..

  2. The Wales judging panel consists of: David Staziker, Finance Wales Investments; Guy Davies, WestBridge Capital; Julian Dennard, Mercia; Dewi Hughes, LDC; Cameron Crocket, Kester...

  3. 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 600 member firms, representing the vast majority of UK-based private equity and venture capital firms and their advisers..

  4. 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.


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