Private equity fund Elaghmore today announced it had successfully raised an additional £10 million from its investors to add to Elaghmore Fund 1A. Elaghmore Fund 1 was first launched in December 2016 with an initial raise of £60 million, with a further £30 million raised in 2020 from US investors to create Elaghmore Fund 1A. The new investment takes the total funds raised by Elaghmore to £100 million.
Focused on acquiring small to mid-cap UK industrial companies across multiple sectors, Elaghmore’s investment strategy is to use its Executive team’s proven operational skills to deliver significant growth and value creation.
The additional funds will be used to support the growth strategies of the businesses acquired by the fund, including investment in new machinery and premises. Since the original fund launched, Elaghmore has completed 11 acquisitions.
Each company acquired shares similar attributes, such as a strong management team and a market-leading position. While organic growth accounts for most of the value created by Elaghmore, the fund has also made bolt-on acquisitions to strengthen the market position or enhance product oﬀering of the businesses.
Some of the acquisitions have been combined to create three distinct businesses:
In addition, in 2021, Elaghmore acquired Orchard House, one of the UK’s largest suppliers of prepared fruit, fresh fruit drinks and desserts, and Formaplex, a leading integrated manufacturer and supplier of lightweight component solutions to the global automotive, motorsport, aerospace, medical and defence market.
Together, the businesses acquired by Elaghmore have a combined annual turnover of c. £350 million and employs around 2.700 people across the UK and Ireland.
Andy Ducker, Co-Founder, Elaghmore said: “Having weathered Covid and worked closely with management teams to restructure and strengthen the businesses we acquired, we are excited about the growth opportunities we see. The additional funds mean we can make several large capital investments to help a number of our businesses become more productive and profitable, including investment in new machinery and premises. This will allow them to seize growth opportunities despite the challenging economic conditions.”
© Elaghmore Advisor LLP
Elaghmore Advisory LLP is an Appointed Representative of NCM Fund Services Limited (FRN 183732) which is authorised and regulated by the Financial Conduct Authority
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