Graphite Capital

Graphite Capital is a private equity firm focused on mid-market leveraged buyout investments, primarily in the UK. The group manages around £1.2 billion for institutional investors, with the most recent fund raising over £500 million in 2018.[1] Since 1991, the firm has backed almost 100 management teams through various investments.

Graphite Capital
TypeUK LLP
IndustryPrivate Equity
PredecessorForeign & Colonial Ventures Ltd.
Founded1981 (1981)
HeadquartersLondon, W1
United Kingdom
Key people
Rod Richards, Markus Golser, Andy Gray
ProductsInvestments, private equity funds
Total assets£1.2 billion
Websitewww.graphitecapital.com

Until February 2016, the firm managed a listed investment trust, Graphite Enterprise Trust, a diversified private equity fund of funds platform. The management contract was transferred to Intermediate Capital Group.[2]

The firm has managed private equity funds since 1981 and in 2001 became fully independent. The firm has a single office in Air Street in London's West End. The firm's Chairman is Rod Richards, who joined in 1986, and its Managing Partners are Andy Gray and Markus Golser, who joined in 1992 and 1997 respectively.

History

Foreign & Colonial Enterprise Trust, a UK listed vehicle, was the first fund to be managed by Graphite Capital. It was established in 1981 with a £10 million initial public offering on the London Stock Exchange. The firm has raised and managed nine listed and unlisted funds to date.

Graphite was originally part of F&C Asset Management and was known as Foreign & Colonial Ventures Ltd. The firm remained a subsidiary of F&C Asset Management until 2001, when the Graphite team completed a management buyout.[3][4][5]

Investments

The firm’s ninth and most recent fund of £470 million raised in 2018[6][7] has backed the following companies, including:

- In October 2022, Digital Space, an information technology and cloud services provider formerly known as Timico,[8][9] acquired from Horizon Capital[10][11]

- In July 2021, Wonderbly - a personalised children's book specialist formerly known as Lost My Name[12][13]

- in May 2019, NRS Healthcare, a provider of mobility and disability aids and services[14]

The firm's eighth fund has backed the following companies including:

- City & County Healthcare - a provider of home care services in the UK[15]

- ICR Group - a provider of repair and maintenance services to the energy sector[16]

- nGAGE Specialist Recruitment (formerly Human Capital Investment Group) - a recruitment business serving a range of niche areas within the public and private sectors[17]

- Trenchard Aviation - a civil aircraft maintenance business focusing on cabin services[18]

- New World Trading Company - a pub restaurant group[19]

- Beck & Pollitzer - an industrial machinery installation and relocation specialist[20]

- Random42 – a producer of digital medical animation[21]

- YSC Consulting - a provider of leadership consulting and management assessment[22]

Graphite's seventh fund, which was raised in 2007[23] and invested until 2013, backed companies including:

- Kurt Geiger - the luxury shoe retailer and wholesaler

- Education Personnel - a provider of supply teachers and teaching assistants to state schools in the UK[24]

- Alexander Mann Solutions - a provider of recruitment process outsourcing[25]

- National Fostering Agency - an independent children's fostering agency

- London Square - a house builder focused on prime sites within the M25[26]

- Willowbrook Healthcare - a developer and operator or premium elderly care homes[27]

Graphite's current portfolio also includes:

- U-POL - a manufacturer and distributor of fillers, coatings and aerosols[28]

- Explore Learning - a provider of after school tuition for children aged between 5 and 14[29]

- Hawksmoor - the operator of premium steak restaurants[30]

Earlier investments include Corbin & King - the operator of signature restaurants in London,[31] the Groucho Club which was sold in July 2015,[32] Dominion Oil & Gas,[33] NES Group,[34] Wagamama[35] and Park Holidays.[36]

References
  1. "Graphite Capital raises over £500m for its ninth UK mid-market fund". Graphie Capital. December 2018.
  2. "Graphite Capital sells fund investment business to Intermediate Capital Group". www.privateequitywire.co.uk. 24 December 2015.
  3. F&C Ventures bought out by management. Money Marketing, April 26, 2001
  4. Management to buy F&C Ventures. The Telegraph, Apr 22, 2001
  5. F&C Ventures becomes Graphite Capital. Investments & Pensions Europe, Apr 24, 2001
  6. "UK PE firm Graphite Capital brings in £470M for 9th fund". S&P Global. 25 July 2018. Retrieved 19 October 2023.
  7. "UK PE firm Graphite Capital brings in £470M for 9th fund". Private Equtiy Wire. 24 July 2018. Retrieved 10 October 2023.
  8. "Timico reborn as Digital Space". Comms Business. 2021-06-29. Retrieved 2023-10-25.
  9. McHugh, Marian (2021-06-29). "Timico Rebrands as Digital Space". UC Today. Retrieved 2023-10-25.
  10. Lindholm, Nina (2022-10-10). "Graphite Capital snaps up Digital Space from Horizon Capital". PE Hub Europe. Retrieved 2023-10-25.
  11. "Newark firm changes private equity owners | TheBusinessDesk.com". East Midlands. 2022-10-06. Retrieved 2023-10-25.
  12. "Printweek - Wonderbly plans further expansion under new owner". Printweek. Retrieved 2023-10-22.
  13. "Graphite Capital buys fast-growing personalised children's book business Wonderbly | AltAssets Private Equity News". 2021-07-27. Retrieved 2023-10-22.
  14. "NRS Healthcare, Acquired by Graphite Capital on May 5th, 2019 | Mergr". mergr.com. Retrieved 2023-10-22.
  15. "HealthInvestor - Article: Graphite Capital backs City & County MBO". www.healthinvestor.co.uk.
  16. "Graphite Capital backs ICR MBO". www.privateequitywire.co.uk. 14 March 2014.
  17. Mumford, Kane (26 November 2014). "Graphite backs MBO of HCIG - Real Deals". realdeals.eu.com.
  18. Langworth, Hannah (4 December 2015). "Graphite backs Aero Technics - Real Deals". realdeals.eu.com.
  19. "Living Ventures' New World Trading Company sold to Graphite Capital". www.bighospitality.co.uk.
  20. "Graphite Capital acquires industrial installation specialist Beck & Pollitzer". www.privateequitywire.co.uk. 20 September 2016.
  21. "Graphite acquires medical animation producer Random42 from Vespa Capital". PE Hub. 21 July 2017.
  22. "Graphite backs GBP72m MBO of leadership consultancy YSC". Private Equity Wire. 30 October 2017.
  23. "Graphite closes seventh UK mid-market fund on £475m - AltAssets Private Equity News". www.altassets.net. 30 November 2001.
  24. "Graphite Capital sells supply teaching specialist Education Personnel to ICG". www.privateequitywire.co.uk. 12 May 2014.
  25. "Graphite Capital sells Alexander Mann Solutions for 260m - Recruitment International". www.recruitment-international.co.uk.
  26. "Graphite sells London Square to Ares Management for GBP100m". www.privateequitywire.co.uk. 4 July 2014.
  27. "HealthInvestor - Article: Health Care REIT backs MBO of Willowbrook Healthcare". www.healthinvestor.co.uk.
  28. Ltd, Insider Media. "Graphite Capital backs £130m U-POL buy-out". www.insidermedia.com.
  29. "Back to school for Graphite as it backs Explore Learning". www.growthbusiness.co.uk. 23 August 2012.
  30. Rankin, Jennifer (26 August 2013). "High steaks: Hawksmoor restaurant chain in private equity sale". the Guardian.
  31. "Graphite exits Corbin & King investment". Private Equity Wire. 18 December 2017.
  32. Cotterill, Joseph (18 June 2015). "Groucho Club sold by private equity firm". Financial Times. Retrieved 3 September 2015.
  33. "Dominion Gas sale sees Graphite Capital hit four exits in 12 months". www.growthbusiness.co.uk. 30 May 2013.
  34. "Graphite Capital sells NES Global Talent". 5 October 2012.
  35. "Wagamama gobbled up in £102m deal". BBC. 17 June 2005.
  36. "Graphite Capital sells Park Holidays UK - PE Hub". www.pehub.com. 12 November 2013.
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