The Elaghmore Story
Founding partners, David Manning and Andrew Ducker, first met 25 years ago. But it was not until 2004 that they first worked together on a substantial company turnaround and began establishing a record for successful transformation and growth in businesses.
In Dane Group, a 150-year old family business and a leading producer of fluorescent paint pigments, they supported the business following the sudden death of its owner.
Working together, David and Andrew, set about transforming the business, improving its performance, renegotiating bank financing and developing its international sales activities. Eventually, they sold the business to its largest US competitor, delivering significant value to shareholders.
They worked on a further three deals before Andrew joined Elaghmore as a full-time partner in 2011.
Investing their own money and working on deals sourced from banking partners, venture capital firms and a rich network of business contacts, the partners steadily built a portfolio of successful investments.
These included Chaucer Foods, the global leading freeze-dried fruit manufacturer; Trutex, the maker of high quality school uniforms for the UK market, the Middle East and China; SB Components, manufacturer of custom-built parts for commercial vehicles and more recently Kesslers International Limited, experts in the design and manufacture of merchandising display solutions.
Each investment was built on a consistent philosophy that by targeting companies with a strong point of differentiation in their market and significant growth potential, they could deliver the necessary operational improvements to drive strong organic growth and real value creation.
Along the way, the partners have gathered a cadre of outstanding managers – Elaghmore’s so-called Praetorian Guard – who have supported the improvement and growth of many of Elaghmore’s portfolio companies.
Throughout, the partnership has remained tightly knit with a distinctive approach – un-bureaucratic in style with a focus on quick decision making and a willingness to support management teams when required.
Since the launch of the fund in 2016, the team is now also focused on investing in strong, well performing businesses ready for the next stage in their transformation and future growth.
In 2017, David Morley, the former senior partner of international law firm, Allen & Overy, joined as a third partner to help Elaghmore build its public profile and its relationship with the investment community.