Press release issued by Limerston Capital LLP in respect of Limerston Capital Partners I, L.P.
Limerston Capital closes debut fund
1 August 2017
London, United Kingdom (1 August 2017) - Limerston Capital LLP (“Limerston Capital”), the London-based private equity firm, is pleased to announce their debut fund, Limerston Capital Partners I, L.P. (the “Fund”) has successfully held its final closing with commitments above its £200 million target.
The Fund has attracted the support of leading pension funds, endowments and fund of funds with investor geographies covering the United States, Europe and Asia Pacific. In addition, the Limerston team is one of the largest investors in the Fund, demonstrating its close alignment of interests.
The Fund expects to continue to pursue control investments in mid-market companies in the UK with an EBITDA of between £4 million and £10 million and to create value through Limerston Capital’s operationally focused model.
Joao Rosa, Founding Partner of Limerston Capital said, “We are delighted to have raised Limerston Capital Partners I ahead of schedule and to be partnering with a number of high quality investors. We believe that the opportunity presented in the UK is well suited to our value-driven, operationally-focussed strategy.”
In September 2016, the Fund completed its first platform investment, Spark Energy, a retail power supplier to rental properties. This was followed by the Fund’s second platform investment in November 2016, AdviserPlus, a leading UK HR outsourcing business.
MVision Private Equity Advisers acted as the global strategic fundraising adviser for Limerston Capital. Latham & Watkins acted as legal counsel.
Limerston Capital was founded by Joao Rosa, James Paget, and Martim Avillez. They are joined by a fully integrated team of Operating Partners, participating in all aspects of deal origination, value creation and portfolio management.
Limerston Capital pursues control investments in lower mid-market companies in the UK and seeks to create value through the firm's operationally-focussed business model. The firm has two principal targets. Firstly, platform investments in established businesses with an annual EBITDA of between £4 million and £10 million with a solid value proposition coupled with the potential for strategic repositioning through operational improvements. Secondly, they target platform acquisitions of businesses with an annual EBITDA of £1 million- £2 million operating in sectors where consolidation opportunities can help create future value.
For further information, please visit www.limerstoncap.com, or contact:
Limerston Capital Founding Partner
CEO, MVision Private Equity Advisers
This press release is not an offer of securities for sale in the United States and interests in the Fund may not be offered or sold in the United States absent an exemption from legislation.