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livingbridge.com

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Investments

106

Portfolio Exits

58

Funds

23

Partners & Customers

2

Service Providers

3

About LivingBridge

LivingBridge invests in UK-based growth companies with robust business models, typically valued from £5m to £100m.

LivingBridge Headquarter Location

100 Wood Street

London, England, EC2V 7AN,

United Kingdom

+44 20 7506 5600

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Expert Collections containing LivingBridge

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find LivingBridge in 1 Expert Collection, including Pharma Startups.

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Pharma Startups

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Pharmaceutical companies working across drug discovery, drug development and drug manufacturing.

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Latest LivingBridge News

Michael Downes wins Dealmaker of the Year

Sep 17, 2021

17 Sep 2021 North East Deals The cream of the region's corporate financiers, accountants, bankers, funders, lawyers and M&A professionals have been celebrated at Insider's North East Dealmakers Awards 2021 - the event's 15th anniversary. KPMG's Michael Downes was named as Dealmaker of the Year, while Paul Mankin took home a Special Recognition Award for his contribution to the dealmaking community. The awards, which were held last night at Hilton Newcastle Gateshead, shone a light on the thriving professional services and corporate finance industry in the North East. Headline sponsor of the evening was Fairstone Group, while the awards were also sponsored by Muckle LLP , Ryecroft Glenton , Swinburne Maddison LLP and Williams Ali Corporate Finance. Bank of the Year Three significant transactions that the HSBC team were involved in were the acquisition of Delta-Simons Environmental Consultants to Lucion Services, the working capital facilities for Vaulkhard Group and the with the Coronavirus Business Interruption Loan for IG Group. The judges felt that HSBC's ability to match its innovation to that of its customers made a real difference. Shortlisted: Winner: PwC During the qualifying period, the PwC team completed six transactions with a deal value of in excess of £500m. These included the sale of Sir John Fitzgerald to Ladhar Group, the acquisition of Visualsoft by Livingbridge and the sale of AVID Technology to Turntide Technologies. The large-scale nature of these deals, together with the fact that they have invested for the future with promotions and new appointments to the team, made PwC to outstanding firm according to the judges. Shortlisted: Winner: Shard Credit Partners The team completed four deals in period with total committed financing of £34m underwritten during the qualifying period. Highlights include funding in support of the acquisition of Bailey Group by SKS Business Services and the MBO of eQuality Solutions and add-on acquisition of Amano Technologies. The judges were impressed with the commitment that Shard had made to the North East and the businesses it has supported here. Shortlisted: Sponsored by Fairstone Group The Square One Law team were involved in some high value and high-profile transactions during the year, including the sales of NBS and px Group for Management and the acquisitions of Hyperdrive Innovation and Avid Technology for Turntide, The judges were also greatly impressed with the firm creating a dedicated Covid-19 team which added real value for clients, such as free advice to over 40 companies who were struggling to access CBILS loans. Shortlisted: Winner: Laura Moorhouse, Santander Laura has been extremely active throughout the pandemic, providing growth funding for both Wave Direct and Simpson Print and a seven figure international working capital facility for Mineral Insulated Cable Company. The judges were struck by Laura’s ability to collaborate with both internal and external partners to find bespoke growth solutions for her clients. Shortlisted: Winner: Charlotte Tracey, PwC Charlotte now leads the PwC Corporate Finance team in Newcastle and led on the investment in Visualsoft by Livingbridge, the sale of PX Group to Aksiom Services Group and the sale of AVID Technology to Turntide Technologies. The judges felt Charlotte's commitment to advising private equity on their investments into prominent North East businesses to support their growth strategy gave her the edge this year. Shortlisted: Barry Gill, TIG Corporate Finance Sarah Forster led Muckle 's advice some of the region's most significant deals during the qualifying period – the Kitwave Group's IPO, the acquisition of 14 IFA businesses by Fairstone Group and the sale of Brunton Nursery. It is the ability to deliver high profile public company IPOs and regional private company disposals and acquisitions that marked Sarah out with the judges. Shortlisted: Emerging Dealmaker of the Year Winner: Naomi McDiarmid, KPMG Naomi has played a key role in some of the firm's big deal successes in the region during the year, including the sale of Visualsoft to Livingbridge, the investment by LDC of in WCCTV, and the sale of Bloom Procurement to BGF . The judges were particularly impressed with Naomi's proactivity in her own development, broadening her Deal Origination skills and building future client relationships. Shortlisted: Winner: Paul Mankin, PwC A multiple winner of the North East Dealmaker of the Year Award, Paul has recently hung up his corporate finance boots. He started his career with Pricewaterhouse (as it was known then) in 1982 and throughout his career he has been known and respected for the breadth of his deal experience, his sound commercial judgement, and unwavering integrity. Over the years he has advised on many landmark transactions in the region including Aesica Pharmaceuticals, Anson, SMD and Sir John Fitzgerald to name just four. He has also been instrumental in training and mentoring the next generation of dealmakers across the corporate and deals community in the North East ensuring that his legacy and approach to dealmaking lives on. Entrepreneur of the Year Winner: Matt Boyle OBE, managing director, Turntide Transport Matt has brought three companies together in the region, with £100m investment from US firm Turntide Technologies, to create Turntide Transport. Matt’s vision for Turntide Transport is to become the world’s largest supplier of EV technologies and to provide solutions not just components to the market. The judges felt it is Matt’s foresight and ambition – and commitment to the North East – that stood out for them. Shortlisted: Dean Benson, founder and CEO, Visualsoft Private Equity/Venture Capital Deal of the Year Sponsored by Williams Ali Corporate Finance Winner: Investment in Visualsoft by Livingbridge (Advisers: PwC; KPMG; The Endeavour Partnership ; Eversheds) Visualsoft provides SMEs with first-class end-to-end eCommerce solutions and the investment was one of the most significant transactions in the North East in the second half of 2020. Not only impressed with the scale of the deal, the judges also recognised that fact that, since the transaction, Visualsoft has grown further through investment in people. Shortlisted: Sale of Bloom Procurement to BGF (Advisers: KPMG; Cavu Corporate Finance; Graph Strategy; Squire Patton Boggs ; Cooley LLP) Investment in Newcells Biotech by Mercia and Northstar Ventures (Advisers: Muckle LLP ; Womble Bond Dickinson; Weightmans) Investment in Bazaar Group by Comhar Capital (Advisers: Ryecroft Glenton Corporate Finance ; Cavu Corporate Finance; Ward Hadaway, RPC; UNW) Sale of END. to Carlyle Group (Advisers: Womble Bond Dickinson; Morgan Stanley and RBC Capital Markets; Latham & Watkins LLP; Goldman Sachs) Deal of the Year (below £10m) Winner: Acquisition of Stirling Solutions by Mandata Group (Advisers and funders: Muckle LLP ; LDC; Santander) This was bolt-on acquisition funded with support from LDC and bank debt from Santander and has grown Mandata's workforce which serves over 2,000 customers nationally. The judges noted that the deal made Mandata even better positioned to help customers thrive as UK transport becomes increasingly digital. This made it the leading deal in this award category according to the judges. Shortlisted: Acquisition of Stirling Solutions by Mandata Group (Advisers and funders: Muckle LLP ; LDC; Santander) Sale of Psyche Clothing to Fraser Group (Advisers: Clive Owen LLP; Womble Bond Dickinson) Acquisition of Enshore Subsea by Al Gihaz Contracting (Advisers: Ryecroft Glenton Corporate Finance ; Square One Law) Investment in Newcastle Tool and Gauge by Ignite Growth (Advisers: KPMG; Clive Owen; Ward Hadaway; DSW Transaction Services; Armstrong Transaction Services; Trowers & Hamlin) Acquisition of Classic Windows (NE) by Premier Roof Systems (Advisers: Ryecroft Glenton Corporate Finance ; Muckle LLP ; TIG Corporate Finance; Ward Hadaway) Sale of Lord Tool Hire to One Stop Hire (Advisers: MHA Tait Walker ; Hay & Kilner; Ryecroft Glenton Corporate Finance ; Lockett Loveday McMahon (LLM); Fairhurst) Deal of the Year (above £10m) Winner: Kitwave Group IPO (Advisers: Muckle LLP ; KPMG; Canaccord Genuity; Howard Kennedy; Akin Gump) Kitwave specilaises in selling and delivering impulse products, frozen and chilled foods and groceries to around 38,000, mainly independent, customers across the UK. In May it was admitted onto AIM in an IPO that valued the company at £105m. The IPO is a significant milestone for Kiwave and allows it to continue its buy and build opportunities. The judges felt that, as one of very few IPOs completed in the North East, the deal is a significant boost for the local market. Shortlisted: Investment in QuantumMDx by British Business Bank's Future Fund (Advisers: Weightmans LLP; WG Partners) Acquisition of Hyperdrive Innovation and BorgWarner Gateshead by Turntide Transport (Advisers: KPMG; Square One Law ; EY; DLA; Ward Hadaway; Muckle LLP ) Investment in Visualsoft by Livingbridge (Advisers: PwC; KPMG; The Endeavour Partnership ; Eversheds) Sale of It's All Good to Valeo Foods (exit for NVM Private Equity) (Advisers: Houlihan Lokey; Muckle LLP ; UNW; Walker Morris ; KPMG; Lockton) Dealmaker of the Year Winner: Michael Downes, KPMG Michael has had a storming year, playing a key role in significant deals such as the sale of Visualsoft to Livingbridge and the sale of Bloom Procurement to BGF . His promotion this year to Director saw him taking an even more prominent role, leading the team in the local market. The judges also hailed the strong relationships Michael has with businesses, investors and fellow professionals in the region, making him the stand-out dealmaker this year. Shortlisted:

LivingBridge Investments

106 Investments

LivingBridge has made 106 investments. Their latest investment was in RealVNC as part of their Private Equity on August 8, 2021.

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LivingBridge Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/26/2021

Private Equity

RealVNC

Yes

3

7/30/2021

Private Equity

North

Yes

1

12/21/2020

Private Equity

Welltel

Yes

1

12/16/2020

Private Equity

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$99M

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10

12/16/2020

Private Equity

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$99M

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10

Date

8/26/2021

7/30/2021

12/21/2020

12/16/2020

12/16/2020

Round

Private Equity

Private Equity

Private Equity

Private Equity

Private Equity

Company

RealVNC

North

Welltel

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Amount

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

3

1

1

10

10

LivingBridge Portfolio Exits

58 Portfolio Exits

LivingBridge has 58 portfolio exits. Their latest portfolio exit was Pho on August 03, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/3/2021

Acq - Fin

TriSpan

4

7/15/2021

Acq - Fin

Cairngorm Capital

1

3/11/2021

Acq - Fin - II

Quadrant Private Equity

3

00/00/0000

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10

00/00/0000

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10

Date

8/3/2021

7/15/2021

3/11/2021

00/00/0000

00/00/0000

Exit

Acq - Fin

Acq - Fin

Acq - Fin - II

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Companies

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Valuation

Acquirer

TriSpan

Cairngorm Capital

Quadrant Private Equity

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Sources

4

1

3

10

10

LivingBridge Acquisitions

56 Acquisitions

LivingBridge acquired 56 companies. Their latest acquisition was Jungle Creations on August 25, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

8/25/2021

Series A

$991

$3.82M

Acq - Fin

3

7/15/2021

Management Buyout

Acq - Fin

2

7/5/2021

Acq - Fin

Acq - Fin - II

1

6/29/2021

Incubator/Accelerator

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$99M

Subscribe to see more

10

3/11/2021

Acq - Fin - II

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$99M

Subscribe to see more

10

Date

8/25/2021

7/15/2021

7/5/2021

6/29/2021

3/11/2021

Investment Stage

Series A

Management Buyout

Acq - Fin

Incubator/Accelerator

Acq - Fin - II

Companies

Subscribe to see more

Subscribe to see more

Valuation

$991

Total Funding

$3.82M

$99M

$99M

Note

Acq - Fin

Acq - Fin

Acq - Fin - II

Subscribe to see more

Subscribe to see more

Sources

3

2

1

10

10

LivingBridge Fund History

23 Fund Histories

LivingBridge has 23 funds, including Livingbridge VII.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/13/2021

Livingbridge VII

$1,683.8M

4

3/9/2020

Livingbridge Enterprise 3 Co-Invest

$10.3M

2

12/20/2019

Livingbridge Enterprise 3 FP

$0.01M

1

10/16/2019

Livingbridge Enterprise 3

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$99M

10

9/5/2016

LivingBridge VI

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$99M

10

Closing Date

5/13/2021

3/9/2020

12/20/2019

10/16/2019

9/5/2016

Fund

Livingbridge VII

Livingbridge Enterprise 3 Co-Invest

Livingbridge Enterprise 3 FP

Livingbridge Enterprise 3

LivingBridge VI

Fund Type

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Status

Amount

$1,683.8M

$10.3M

$0.01M

$99M

$99M

Sources

4

2

1

10

10

LivingBridge Partners & Customers

2 Partners and customers

LivingBridge has 2 strategic partners and customers. LivingBridge recently partnered with Habit Group on December 12, 2018.

Date

Type

Business Partner

Country

News Snippet

Sources

12/18/2018

Partner

Habit Group

New Zealand

2

10/16/2017

Vendor

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10

Date

12/18/2018

10/16/2017

Type

Partner

Vendor

Business Partner

Habit Group

Country

New Zealand

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News Snippet

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Sources

2

10

LivingBridge Service Providers

3 Service Providers

LivingBridge has 3 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Private Equity

Investment Bank

Financial Advisor

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Service Provider

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Associated Rounds

Private Equity

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Provider Type

Investment Bank

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Service Type

Financial Advisor

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Partnership data by VentureSource

LivingBridge Team

3 Team Members

LivingBridge has 3 team members, including former Chief Executive Officer, Howard Carter.

Name

Work History

Title

Status

Howard Carter

Chief Executive Officer

Former

Gerard Kelly

Controller

Former

Peter Arthur

Managing Director

Former

Name

Howard Carter

Gerard Kelly

Peter Arthur

Work History

Title

Chief Executive Officer

Controller

Managing Director

Status

Former

Former

Former

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