BLOG - the calm before the storm

Bill Nixon, Managing Partner 

Bill Nixon

After the inevitable lull over the summer, the main season for new investment activity is well and truly underway and we’re really encouraged by the level of prospective new business across the Maven network right now. It is clear that lots of companies are seeking capital, for a range of different financing requirements, and we're optimistic that this activity will translate into a number of new assets being secured across the portfolio.

Looking back over 2012 and 2013 to date, Maven has supported no less than 16 companies with mezzanine and equity funding solutions, making us one of the most active private equity investors in the UK. We are firm believers in the regional model, where local relationships are crucial in building trust with advisers and the companies we want to invest in.

As part of our commitment to invest regionally and support the UK SME sector, we have recently signed a new management contract with the Association of Local Authorities in Greater Manchester, where Maven have been tasked with deploying £20m in capital to qualifying SMEs in the area. Several transactions are already underway, confirming a strong underlying demand for this type of funding solution.

As a more general comment, conditions for investment into 2014 look positive, the UK economy appears to be finally turning positive, and the forward guidance on continuing low interest rates from Mark Carney at the Bank of England should give the UK business community confidence to take on sensible levels of debt to expand.

On a slightly different note we were delighted last week to win Sale of the Year at the Scottish Insider Deal and Dealmaker Awards, for our exit from Nessco, a business we first became involved with in 2008, which was sold to Rignet Inc, a NASDAQ listed US telco.

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