WestBridge

Last week we held our Annual Investor Day at the Institute of Directors (IoD) in London. We were delighted to welcome so many friends and supporters of WestBridge. Alongside providing an update on the overall performance of our three Funds and individual portfolio companies, we held interviews with Management teams and took deep dives into key focus areas within WestBridge III. Notably, James MacLeay and Luke Gilbert outlined how our continued commitment to ESG is being evidenced by increased sustainability scores and on-track workstreams towards Net Zero plans. Interviews hosted with three of our portfolio companies sparked insightful conversations into areas such as market dynamics, the evaluation of inorganic growth strategies and the WestBridge Value Creation Model, which was showcased across different stages of our relationships. David Lowe and Mark Silver from Survey Solutions highlighted our differentiated approach to investment, being one that is focused on long term partnership. In practical terms, they explained how Survey Solutions is benefiting from WestBridge over-funding the deal at completion to enable an accelerated growth plan. APEM Group’s Leah McGimpsey and Nicholas Page (appointed sell-side advisor from Lazard) provided an update on the company’s ongoing international expansion and mid-2025 exit plans. The final interview saw Mark Sutherland and Scott Kewley from Techex provide a compelling overview of the company’s technology, which enables major events to be broadcast around the world in real time. Both explained how the WestBridge partnership model is supporting Techex develop – among other things – an increasingly sophisticated sales and marketing function. It was encouraging to hear everyone interviewed talk so positively about their experience of working with WestBridge, and how they have seen the benefits of our collaborative and supportive approach. Huge thanks to our management teams involved and to all those who attended. #privateequity #privateequityfirms #responsibleinvesting #MBO

We are excited to announce three key appointments at Causeway Securities following our investment last month.   Adam Suggett has joined as Chief Financial Officer and brings a wealth of experience of the financial services market, having held previous roles at leading firms including 7IM and Rothschild & Co.   He is joined by Nick Hansen, who has been appointed as UK CEO, and Bobby Owen as UK Sales Director.   Causeway is a leading distributor of structured products and acts as an intermediary between blue-chip investment banks and its 300+ strong client base of wealth managers, IFAs, insurance companies and credit unions.   The financial, strategic and sales experience of Adam, Nick and Bobby will be instrumental in supporting the growth ambitions of Causeway Securities.   Welcome to the team! #privateequity #privateequityfirms #BVCA

Real Deals has announced some of the speakers at its fourth annual ESG Forum, which will take place in January.   We are excited that James MacLeay, who leads our responsible investment and ESG strategy, features in the line-up.   The two-day event will take a deep dive into ESG within the private equity sector with a mix of keynote presentations, fireside chats and panel discussions. The agenda, https://lnkd.in/dkj3-2xX, features a broad range of ESG-related topics, including a session moderated by James.   We are very much looking forward to it! #privateequity #responsibleinvesting #ESG #privateequityfirm

Our latest investment - taking a stake in Causeway Securities - has attracted much media attention. As our first deal in Northern Ireland, we were especially pleased to see this coverage in The Irish News https://lnkd.in/eRik79pb #privateequity #privateequityinvestment #bvca

We are pleased to report that WestBridge has made a majority investment in Causeway Securities, a leading international distributor of structured products. The deal marks the third investment from WestBridge III and our first in Northern Ireland. Causeway Securities acts as an intermediary between blue-chip investment banks and its 300+ strong client base of wealth managers, IFAs, insurance companies and credit unions. The company’s global footprint includes the UK, US and other international jurisdictions, and is focused on continuing its rapid international expansion, with a particular focus on the US. The company was established in 2016 by CEO, Conor O'Donnell, who led the transaction alongside Joe McDaniel (chief compliance officer). Both are supported by an exceptional leadership team across the UK and US offices, including Donald Brudie (US CEO) and Andrej Ogorevc (chief investment officer). The WestBridge transaction team comprised James MacLeay and Peter Barkley, who both join the Causeway Securities board as directors, and Luke Gilbert, who becomes a board observer and will coordinate value creation initiatives. Read more about the deal here https://lnkd.in/er8yACUS #privateequity #privateequityfirm #privateequityinvestment #bvca

Portfolio company Alpine Fire Engineers Ltd has secured a refinancing package worth up to £70m with Shawbrook Bank and HSBC, positioning the company for further growth and expansion. The facility has already financed the company’s recent acquisition of DAS Fire Limited - Fire Detection and Suppression and will provide additional funding for future acquisitions to supplement its already successful organic development strategy. Following a management buyout in December 2022, supported by WestBridge, Alpine has experienced robust growth in its core sectors along with expanding its technical capabilities helping them to break into more complex and high-value markets. The financing package aligns perfectly with Alpine’s long-term vision of driving both organic and inorganic expansion, enabling the company to seize strategic opportunities and cement its leadership position in the fire engineering industry. Steven Nanda, chief executive officer, at Alpine said: "We would like to thank the team at Shawbrook for their continued support and also the team at HSBC, who join us on the next phase of our exciting journey. Having them both and our partners, WestBridge in support, will accelerate our ambitions of becoming the leading fire suppression specialist for complex environments.” Thomas Dutton, senior investment manager at WestBridge, said: “Alpine has driven fantastic growth since our investment in 2022 and this new debt facility brings a level of flexibility and certainty to help Alpine realise the next chapter of expansion and future growth. It has been a busy two years for the team with new senior additions, new IT systems being implemented, a 30% increase in headcount, a strategic bolt-on, all whilst being at the forefront of ESG initiatives in the sector. The addition of HSBC to the funding Shawbrook have provided since the original buyout, is very exciting and we are looking forward to continuing to support the management team as it pursues further development.” Jake Taylor, director at HSBC UK, Leveraged Finance said: “We are delighted to be joining Alpine and WestBridge on the next phase of the journey. It is an exciting time for the business, which has demonstrated fantastic growth in recent years, and the DAS acquisition is a highly complementary addition to the wider Group. We look forward to working with management and WestBridge to support the company's future growth ambitions." Deepak Parekh, senior director, Shawbrook Financial Sponsors, said: “We are thrilled to continue to support Alpine in their ambitious growth journey. With the support of WestBridge, Steve and his management team have delivered very strong results since the buyout in December 2022 and made huge strides in scaling the business.  We are delighted to be partnering with them via this refinancing package to demonstrate our on-going support”.  #privateequity #privateequityfirm #privateequityfunding

It’s been an amazing week for portfolio company Tryzens Global. The international digital commerce agency has picked up three prestigious industry awards.   At the Global Digital Excellence Awards Tryzens was named CRO Agency of the Year, receiving this feedback from the judges:   “Tryzens impressive track record is highlighted by clear markers of achievement, reflecting the effectiveness of their comprehensive suite of optimisation services. The meticulous approach to covering every aspect of CRO, preparing clients for high-traffic periods, and ensuring optimal performance during peak time is outstanding. The continuous tracking and analysis of performance to drive ongoing optimisation demonstrates a commitment to excellence and adaptability. This campaign stands out for its strategic depth and unwavering focus on delivering exceptional results.”   During the same ceremony, Tryzens also collected the award for eCommerce Website of the Year for its work with sports fashion brand Sweaty Betty. Yet again, the judges recognised Tryzens capabilities:   “An outstanding accomplishment in website redesign, the key innovations seamlessly integrating security and risk management while maintaining a client-centric focus, set a new standard in the industry. This campaign exemplifies a deep understanding of modern user needs, delivering a website that is not only meets but exceeds expectations”   The Sweaty Betty website was also a winner in the UK eCommerce Awards, where it was named Fashion Apparel Website of the Year and Tryzens received this accolade:   “Tryzens showcased a solid strategy and flawless implementation, with exceptional attention to audience detail. The results achieved across the board are impressive, underscoring the effectiveness of their clear implementation plan. The seamless integration of physical and digital shopping experiences, bolstered by advanced technology and a mobile-first approach, distinctly set their website apart.”   We supported a MBO at Tryzens last year and are thrilled to offer our congratulations to the entire team for their impressive dedication to delivering excellence in all they do. #privateequity #privateequityfirm #digitalcommerceagency

Great to see Claire Jones from portfolio company Smart CT picking up the Unsung Hero Award at the CRN UK Women & Diversity in Channel Awards 2024. The category was created to recognise someone whose work is regarded as indispensable but who tends to go under the radar. Congratulations, Claire from everyone at WestBridge.

We're pleased to report that WestBridge backed Alpine Fire Engineers Ltd Fire, the market-leading specialist in design, project management and maintenance of active fire suppression systems for complex industries has acquired Hampshire-based DAS Fire Limited - Fire Detection and Suppression Ltd. The acquisition follows a WestBridge backed secondary buyout of Greater Manchester-based Alpine Fire by its management team in 2022. Having identified data centres as a key target market for growth, the company’s first acquisition since the investment by WestBridge adds additional technical expertise alongside an expansion into a new complex market.   Founded in 2013 by Stuart Parker and joined by Paul Darke in 2016, DAS Fire Limited is a market leader in supplying fire detection and suppression solutions to the data centre market across the UK and Ireland. It offers a full-service design, installation, maintenance and support offering bespoke to the data centre market. As part of the acquisition, Paul and Stuart will remain with the business alongside the entirety of their team. Alpine Fire chief executive officer, Steven Nanda, commented:   “Since our secondary management buyout in December 2022, we have continued to be extremely successful in driving organic growth across our core markets. This acquisition enables us to accelerate our diversification strategy into sectors that complement our areas of expertise. I am incredibly excited to have DAS join the team, we have added further expertise and capability in a unique sector which we identified as a key growth area, whilst also providing us with a fantastic opportunity to offer our customers an improved and more comprehensive solution.’’ Stuart Parker, managing director at DAS Fire said: “It’s an exciting time to join the progressive team at Alpine and combine the extensive experience of both of our organisations to offer expertly designed fire detection and suppression systems to our customers in the complex sectors we specialise in. We will continue to focus on both our customers and colleagues whilst looking forward to the benefits that come with being part of a larger organisation.” Thomas Dutton, senior investment manager at WestBridge, said: “We have developed a great partnership with the team at Alpine since investment. The acquisition of DAS Fire supplements Alpine’s existing offering and opens up a new sector of the market. It goes without saying, we are pleased and excited about bringing DAS into the Alpine Group and we look forward to supporting Alpine as it pursues further strategic growth.” #privateequity #privateequityfirm #firesuppression

Portfolio company Survey Solutions, a leading provider of engineering surveying and monitoring services, has announced its first acquisition since undergoing a management buyout at the end of last year. The company’s acquisition of JWG Survey & Engineering provides it with a first foothold in the rail sector. Founded in 2019 by Jake Gaskell, JWG’s team of experienced engineers provide surveys and engineering management services to support the safety, efficiency and reliability of the railway infrastructure. Working to the highest industry standards, including RISQS, JWG provides automated and manual monitoring, topographic and control surveys, clearance surveys, track alignment and design verification, as well as drainage and utility surveys. The company works closely with railway asset owners, principal contractors and Network Rail’s works delivery and asset protection teams to ensure safe and efficient delivery of projects. Gaskell, who will remain with the business as Director of Rail, said: “Although JWG is still a relatively young company, we have already established an excellent reputation. The opportunity to join forces with Survey Solutions was just too good to miss and provides a win-win for everyone. We’ll benefit from the resources of being part of a larger group; Survey Solutions will benefit from our expertise in the rail market; and our respective clients will benefit from an even wider range of first class services, delivered by engineers at the top of their game.” David Lowe, CEO at Survey Solutions, said: “This acquisition will be of great benefit to both JWG and Survey Solutions customers, as we take advantage of rolling out JWG’s specialist rail services nationally on the Survey Solutions platform.” Rebecca Sinclair, investment director at WestBridge, said: “We are pleased that JWG represents the first acquisition in our partnership with Survey Solutions. This has followed a period of significant investment in the Survey Solutions platform and growth of the acquisitions pipeline, such that the acquisition plan can now accelerate.” Survey Solutions has experienced impressive growth in recent years and now has 14 regional offices and 200 full time employees, most of whom are specialist surveyors. Its clients include AECOM, WSP, Balfour Beatty, Amey, Mace and Kier. David Lowe, CEO of Survey Solutions, who led the MBO, has stated his intention to grow Survey Solutions by pursuing both an organic growth and a buy and build strategy, and establish it as the UK’s most trusted provider of engineering surveys and monitoring solutions. The acquisition of JWG is expected to be the first of several in the coming months. The acquisition strategy is focused on surveying and monitoring businesses across transportation, utilities, government and energy infrastructure end-sectors. #privateequity #privateequityfirms #rail #privateequityinvestment