Endless LLP Access to Finance Event Richard Harrison 18 January - - PowerPoint PPT Presentation

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Endless LLP Access to Finance Event Richard Harrison 18 January - - PowerPoint PPT Presentation

Nov 24, 2023 466 likes •656 views

Endless LLP Access to Finance Event Richard Harrison 18 January 2017 1 Introduction to Endless 1 A TRANSFORMATIONAL INVESTOR Endless LLP is a UK based private equity investor with one distinct goal: to make business better for everybody.

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Endless LLP

Access to Finance Event Richard Harrison

18 January 2017

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A TRANSFORMATIONAL INVESTOR

Introduction to Endless

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A TRANSFORMATIONAL INVESTOR

Endless LLP is a UK based private equity investor with one distinct goal: to make business better for everybody. It’s why we get out of bed in the morning; why we do what we do and why we consider ourselves unique from other investment houses. We consider the real value of our investments to be the difference we make to businesses, communities and individuals.

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FUND FOR

GROWTH

OUR INVESTORS

USP’s

Universities UK and International Pension Funds Charitable Foundations

We have a diverse range of investors including: We are lucky to have 30 blue-chip, global institutions that share our social agenda as our partners in Endless fund IV.

  • Speed
  • In-house due diligence
  • Fund the whole deal
  • Active investor
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A TRANSFORMATIONAL INVESTOR

  • Focusing on UK special situations
  • Will consider selective overseas opportunities
  • Headquartered in Leeds UK, with offices in London and

Manchester

  • Established in December 2005
  • Fund IV – third institutional fund; close December 2014; GBP

525 million

  • Overall – GBP 1 billion under management

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Introduction to Endless LLP

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OUR STORY SO FAR

ENDLESS FUND I

  • GBP 75 million
  • UK focussed
  • High net worth

investor

  • Closed & fully

exited

  • 15 deals

ENDLESS FUND II

  • GBP 164 million
  • UK focussed
  • Institutional fund
  • Fully invested
  • 17 deals

ENDLESS FUND III

  • GBP 225 million
  • UK focussed
  • Fully invested
  • 13 deals

ENDLESS FUND IV

  • GBP 525 million
  • Focussed UK,

Europe and beyond

  • Started March 2015
  • 8 deals
  • 25% capital deployed

2005 2008 2011 2015 2018

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Endless investment approach

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What we look for

“

NO MATTER WHAT THE LABEL IS, THIS IS WHAT WE DO We buy good businesses which have one or more of the following:

  • Wrong management team
  • Wrong owners
  • Wrong financial structure
  • Failed sale process
  • Cash flow issues

We fix these things

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WHAT WE LOOK FOR

INVESTMENT CRITERIA

  • Tough deals or where ‘change’ needs to happen.
  • Sector agnostic/situation specific.
  • Sales of GBP 20 million to GBP 1 billion.
  • Both profitable and loss making businesses.
  • Endless will invest up to GBP 100 million.
  • We do not invest in embryonic, high growth or

hi-tech businesses.

USPs

  • Speed – we regularly complete deals within 2 to 3

weeks of first being introduced to a business.

  • In-house due diligence – we lead the majority of

commercial and financial risk-based due diligence in house, enabling us to assess an opportunity within a matter of days.

  • Fund the whole deal – we are able to underwrite all
  • f the equity and debt requirement on Day One,

providing certainty to all stakeholders.

  • Active investor – we actively support management

teams in achieving their goals for their businesses.

TRANSACTIONS

Situations where we can add value through transformation Non Core Assets Operational Turnarounds Failed Processes Financial Restructuring Strategic Debt Acquisitions

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A TRANSFORMATIONAL INVESTOR

OUR DIVERSITY

BRINGING CERTAINTY

We can invest up to £80m in a single transaction in businesses with headquarters,

  • r significant operations, in the UK.

We also readily invest in business outside the UK and have investments in five European countries. We target businesses with between £20m and £1bn of revenues.

Endless is a flexible investor We invest in buyouts, non-core businesses, re-financings and turnarounds.

25,500

Jobs saved

We invest in a broad range of industry sectors including (but not limited to:

FOOD | RETAIL | ENGINEERING FINANCIAL SERVICES | MANUFACTURING

Carve out Turnaround MBO

We pride ourselves in creating positive outcomes.

Local wealth creator Partnerships with banks, private equity houses and corporates Investing in the future

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A TRANSFORMATIONAL INVESTOR Ink Global Travel Media £70m turnover www.ink-global.com Portfolio Brabant Manufacturing www.brabantalucast.com Portfolio High Street TV Retail www.highstreettv.com Portfolio £70m turnover Imtech M&E £400m turnover www.imtech.co.uk Portfolio The Works Retail £80m turnover www.theworks.co.uk Portfolio www.adare.com Portfolio Marketing £170m turnover Essential Fleet Services Fleet Services £50m turnover www.essentialfleet.co.uk Portfolio EVO Group Stationery Supplier www.evo-group.co.uk Portfolio £660m turnover Karro Food Group Food Manufacturing www.karro.co.uk Portfolio £500m turnover West Cornwall Pasty Company Food £15m turnover www.westcornwallpasty.co.uk Portfolio Liberata BPO & IT Acquiror: Outsourcing Inc Exited £180m FMG Fleet Accident Mgmt Acquiror: Redde plc Exited £90m Gradus Manufacturing Acquiror: Gerflor Exited £40m Bathstore Retail Acquiror: Stephens Inc Exited £112m Trustmarque IT Acquiror: Capita Exited £60m Adare £660m turnover

TRANSACTIONS

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Becoming an Investable Proposition for PE

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Dos and Don’ts for Attracting PE

DO’S Choose a partner that shares your long term vision and “gets” your business Be realistic about your funding need and your valuation “Own” and believe in your business plan Choose a partner that can provide certainty Look at a firm’s track record Reference an investor with the Management teams in their current and past portfolios Have a 5/6 year plan

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Dos and Don’ts for Attracting PE

DON’TS  Just choose the highest valuation at stage 1  Under-play your funding requirement  Rely solely on advisors to develop a business plan  Ignore reputational issues  Assume you won’t be expected to meet the targets

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Questions & Answers

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ENDLESS LLP

www.endlessllp.com

Company Reg. No. OC316569 | Endless LLP is authorised and regulated by the Financial Conduct Authority

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A TRANSFORMATIONAL INVESTOR

LEEDS

3 Whitehall Quay Leeds LS1 4BF T +44 (0) 113 210 4000

MANCHESTER

4th Floor, The Chambers 13 Police Street Manchester M2 7LQ T +44 (0) 161 837 6030

LONDON

102 Park Street Mayfair London W1K 6NE T +44 (0) 207 514 4000

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Endless Offices

Head Office