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WestBridge appoints new Investment Director

Private equity investor WestBridge Capital has appointed Tim Whittard as an Investment Director.

Whittard joins WestBridge after spending the past five years at BGF plc, based in the Midlands. Prior to this he was at Sovereign Capital, Gresham LLP, Bridgepoint and began his career at PwC, where he qualified as a Chartered Accountant.
 
He will work closely with the existing team to originate and execute new investments and nurture portfolio companies through to exit. With strong contacts and knowledge of the Midlands market, his remit will be to help expand the WestBridge footprint beyond the South West, South East and Wales into the Midlands region.
 
Whittard says: “I have been aware of WestBridge for some time. The partners are all experienced investors, who have demonstrated quality investment judgement and realised some excellent returns from their first Fund. 
 
“I have been impressed with the way they select investee companies and drive value growth by helping those companies develop.
 
“It’s a particularly exciting time to join WestBridge. With VCTs leaving the market, limited bank debt and over 15,000 UK companies that fit our investment criteria, the future is full of opportunity.”
 
WestBridge has developed a strong reputation for providing high levels of strategic and operational support to portfolio companies. 
 
Since March 2012, WestBridge has led equity investments totalling circa GBP45 million, with a combined enterprise value of over GBP80 million, in eight companies.  It has also completed two exits, which have delivered an overall 4.3x gross multiple on invested capital (MOIC). 
 
WestBridge typically invests between GBP5 million to GBP10 million into established UK-based B2B companies, with enterprise values of between GBP10 million to GBP20 million and a minimum GBP2 million EBITDA at entry.  Companies must demonstrate a potential to grow and have a strong position in their niche.
 
Valerie Kendall, one of the four founding partners, says: “Tim is a most welcome addition to our team. His extensive experience, energy and proven commercial judgement will help take WestBridge forward. 
 
“His appointment is the first of several as we look to develop our business.”

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