Maven Capital Partners closes management buyout fund at £100m

Maven Capital Partners has closed its debut management buyout fund at £100m, the Glasgow-headquartered private equity management firm announced today.

The fund, which was backed by Scotland’s national economic development agency Scottish Enterprise, targets management buyout opportunities in UK companies with an enterprise value of £10m to £40m, making investments of between £5m and £15m in each transaction.

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Maven has already supported the management buyouts of plastic manufacturer John McGavigan, door and window specialist UAP and Acton Banks, a healthcare recruitment firm, with investments of £10.25m, £8.6m and £9.65m respectively.

The fund is the company’s first institutional fund, and joins its existing VCT and other client funds, bringing the firm’s total funds under management to £630m.

“Maven is delighted with the support we’ve received from our LP investors, and it is pleasing to see such a strong appetite for our Fund which addresses the relatively underserved smaller end of the UK market,” Andrew Craig, partner at Maven, said.

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“Our investors will benefit from Maven’s nationwide presence and reach, coupled with our in-depth understanding of the scale-up segment of the market and our long-term track record of identifying and investing in high quality businesses and management teams who are capable of delivering significant growth.

“We have already seen good progress with the fund, with close to £30m already deployed, and a strong pipeline of opportunities currently under review.”