Successful SME investment strategy has fresh firepower
Panoramic, a leading equity investor in fast growing, entrepreneurial UK companies, is delighted to announce the first close of its new £50m Panoramic Growth Fund 2 (“Fund 2”). This is a significant step in the evolution of Panoramic’s business. The new fund will be targeted at high growth smaller companies in the UK. Funding has been raised from a range of institutional investors, with a final close expected in the first half of 2016.
Investments of between £1m and £5m will be made into companies that are seeking to capitalise on growth opportunities, that have excellent management teams and that have achieved turnover of more than £1m in the prior 12 months. A range of sectors will be considered, with a partner led approach across the entire United Kingdom.
Fund 2 was raised on the back of Panoramic’s highly successful first fund, which has already returned all capital to its investors and continues to develop its remaining portfolio across a range of sectors. Three successful exits have been achieved so far including the sale of Cascade Technologies to Emerson, the sale of Solfex Energy Systems to Travis Perkins and the secondary buyout of Specialist Tours, a consolidator in the cultural holidays market.
The new fund has entirely flexible capital. Panoramic are well known for their innovative approach to investing, and the new fund will support the full spectrum from management buyouts and replacement capital, to financing growth for aspiring business owners.
Panoramic has been built by Stephen Campbell, David Wilson and Malcolm Kpedekpo in 2009. With the fund now live, Stephen Campbell commented: “Our success in raising our second fund has come as a result of backing a number of exceptional businesses. We are genuinely excited about the prospects for Fund 2 and building a further portfolio of successful and diverse businesses, and to working with the ambitious and talented entrepreneurs that drive these companies forward. With highly flexible capital now available, we will be targeting both buyout and growth capital to UK smaller companies and know that this is an important step for Panoramic to maintain its position as one of the leading investors in UK.”