Lyceum Capital has expanded its investment team with the appointments of Matthew Norrington and Thomas Alldred as the UK lower mid-market growth investor prepares to deploy its third fund.
Norrington joins as an investment director from LDC where he spent over five years originating and executing buyouts with enterprise values (EV) of between GBP5m and GBP100m, as well as supporting the development of the firm’s portfolio companies. He worked on nine transactions during this time, including the buyout of mechanical engineering specialist PJD and exit from specialist retailer American Golf.
In 2006 Norrington joined Control Risks Group as a strategy and planning consultant where he supported the global security consultancy business’ senior management team to create a new internal planning function. Prior to this he spent over a year supplying commercial due diligence to leading private equity clients as a senior associate in Deloitte’s Transaction Services practice.
Alldred’s appointment as an investment executive follows a two and a half year spell as an executive in Deloitte’s transaction services team. There he advised corporate and private equity clients, providing due diligence and other transaction-related services.
Simon Hitchcock (pictured), partner at Lyceum Capital, says: “Matthew’s strong transactional experience in the sub-GBP100m EV segment and Thomas’ pedigree in supporting private equity investment processes will be very valuable as we enter the next stage of our business’ development; investing our third and largest fund to date.
“These appointments take headcount in our investment team to 10 and indicate our continued confidence in the resilient UK lower mid-market. The segment consistently provides quality investment opportunities across a host of sectors, despite challenging economic conditions.
“We are seeing significant appetite for capital amongst ambitious management teams and real potential for investors to create value, particularly through transformational change and buy-and-build models in fragmented emerging industries.”
Lyceum Capital’s portfolio includes business software developer Access Group, managed hosting provider Adapt, security software company Clearswift, and drainage and water services business UKDN Waterflow. Last year the firm exited its investment in M&C Energy Group, an energy consultancy, to trade buyer Schneider Electric, the French-headquartered multinational energy management company.
