Beechbrook adds to UK origination team
SME direct lender Beechbrook Capital has appointed Paul Whitehouse as investment director to head up deal origination and execution activity across the Midlands.
With over 30 years’ experience, Whitehouse joins from Lloyds Banking Group, where he spent the last two decades focusing on corporate and leveraged finance transactions across the Midlands.
As well as his transaction experience, Paul brings an extensive network of contacts in the professional and business communities in both the West and East Midlands.
Paul Shea, Beechbrook managing partner, says: “We are delighted to have Paul on board to enhance our UK origination platform. The Midlands represents an important market for Beechbrook thanks to the large opportunity set, and we look forward to developing new and existing relationships across the region.”
Beechbrook has also completed an investment in Motocaddy to support the GBP22 million buyout by Ethos Partners. Beechbrook’s investment consists of a senior secured loan and equity co-investment.
Motocaddy is one of the world’s leading suppliers of powered and non-powered golf trolleys, associated golfing accessories and trolley batteries. Motocaddy is headquartered in Bishop’s Stortford and sells its products into the UK and international markets, including Germany, France, the Netherlands, Sweden and Canada.
Julian Carr, co-founder of Ethos Partners, says: “Beechbrook has been a true partner to us on this investment. They were able to quickly understand the business and our plans for the future. Having worked together previously, we knew we could rely on their pragmatic approach, not only during the execution phase but also throughout our ownership. We are very excited to be working with Beechbrook again.”
Jon Herbert, managing director at Beechbrook Capital, adds: “We are pleased to have completed this investment into Motocaddy having been impressed by the management team and the products during our due diligence. Ethos and management’s plans for the business are exciting and we are looking forward to supporting them.”
Beechbrook’s UK SME strategy focuses on investments in lower mid-market companies that are not backed by traditional private equity houses. It held a first close on its second fund in December 2018 and has made five investments to date including, most recently, in Seventeen Group, a privately-owned insurance group, and Corstorphine + Wright, an architectural design practice with offices in 10 UK cities.
Beechbrook were advised on the transaction by Gateley Legal.