Growth Capital Partners (GCP) has hired Francesco Santinon as a partner and Graham Dewhirst as advisory partner who will also take a seat on the board and investment committee. Santinon joins from Spirit Capital where he was founder and managing partner, while Dewhirst was formerly a partner and head of investor relations at Bridgepoint.
Previously Santinon worked for Close Brothers Private Equity (now CBPE) and also in corporate finance at PWC. He brings with him a strong track record and 14 years experience of investing in GCP’s target areas.
Dewhirst has nearly 30 years of private equity experience. In his role at GCP he will provide advice and assistance with the overall strategy and development of the business.
Santinon says: “We believe that current UK market conditions represent an excellent investing platform for flexible, structured equity. I was very attracted to GCP because the firm has pioneered private equity financing which does not rely on third party bank debt and provides the majority or all of the funding to a variety of different transactions. I am delighted to be joining the team at this exciting time.”
Dewhirst says: “GCP’s track record shows that its strategy has been a success with management teams who are able to retain more equity; advisors who know that GCP provides certainty of delivery; and investors who want attractive risk adjusted returns. This is an exciting time in the development of this business.”
The appointments are consistent with GCP’s position of being a partner led business. The team now comprises of four equity partners, an associate director, and two advisory partners. This encompasses the full range of skills necessary to address GCP’s unique model of investing both debt and equity into UK lower mid-market companies.
Over the past ten years, GCP has delivered a realised IRR of 20% and has returned GBP144 million on invested capital of GBP75 million in 13 exits. The last five exits have aggregate returns of 37% IRR and 2.2x money. The firm has made over 20 investments including companies such as Tangerine, the UK confectionery business that makes Butterkist Popcorn.
