Year in Review

Last year concluded with slightly fewer transactions compared to previous years – however we were certainly no less busy behind the scenes! Three new businesses were welcomed into the portfolio and two businesses exited. We are actively looking for bolt-on opportunities for 25% of our companies and we continue to invest in expertise to drive deep value throughout our portfolio.

We saw a high volume of businesses looking for investment in 2019, to bring stability and create longer-term value. And while no sector is immune to market pressures – there were a greater proportion of opportunities from consumer facing sectors, particularly casual dining.

NEW DEALS

Airhop – Leading group of trampoline parks in the UK and Europe
Joined in January 2019
More information, or watch a short AirHop video.

Richard Irvin – National provider of technical Facilities Management services
Joined in January 2019
More information

Redeem – Global mobile phone recycling provider
Joined in July 2019
More information

EXITS

We were reminded of the difficult nature of achieving successful turnarounds from intensely challenging trading conditions, when sadly a buyer could not be found for Havelock and the business fell into administration over the summer.

Most recently, BDO acted on the successful trade sale of The Harley Medical Group to private equity-backed dermatology specialist Lasercare Clinics which operates a chain of clinics known as sk:n. This transaction has secured the future of the business and has initiated the long-awaited consolidation of the sector in the UK.

PEOPLE

At the end of 2019 Myles stepped down as our Chairman. During his time at Rcapital, Myles brought vast experience of the restructuring market, pragmatic advice and immense professionalism.

We understand that our people and their expertise bring the positive changes that transform businesses. Our portfolio has access to a wide range of skilled practitioners, this now includes Rachel Meadowcroft who brings 20 years of HR and people experience. Alex John also joined from Livingstone Partners to support with the portfolio with his Corporate Finance expertise and help with investor relations.

It will be interesting to see how 2020 plays out but we expect it to be a busy year. Thank you to everyone who has supported us over the last 12 months, and we look forward to seeing what opportunities the next year brings.

If you would like to know more about Rcapital, how to secure funding, or if you know a business in pursuit of investment – watch our short video or give us a call.