Summer 2019 has been very busy at Panoramic; four transactions completed in four months, in a range of sectors right across Great Britain and Northern Ireland, and a number of transaction types. We are privileged to have the flexibility in our second fund to do many types of private equity transactions, and our recent investment activity showcases this versatility.
We supported Belfast-headquartered IT services business CMI with replacement capital to exit early non-executive investors, and funded the acquisition of a London-based IT company as part of a buy & build strategy. Healthy snacking company Freed Foods received growth capital to increase its sales force, marketing and new product development. We backed the management buy-out (MBO) of specialist industrial insulation manufacturer Elmelin, and provided equity release and growth capital to innovative Manchester-based telecommunications company Vaioni.
We structure all of our transactions so that they are a great fit for the companies and management teams that we back. We make particular effort to ensure that management teams are incentivised to benefit from the next stage of the company’s growth. For example, using equity bonuses for outperformance, and share option schemes for management. We are also looking to support our existing portfolio with further investment, with several portfolio companies investigating ‘bolt on’ acquisitions.
Despite continued political uncertainty in the United Kingdom, we are receiving a good level of new investment opportunities. Our second fund is still in its investment stage and we are on the lookout for interesting businesses and management teams to support as we head towards 2020.