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Bridges Sustainable Growth Funds We invest in high growth, high impact businesses where financial returns can go hand-in-hand with positive impacts for society Bridges Sustainable Growth Funds invest in high-growth, high-impact businesses. Our approach allows us to look at businesses in a different way, to find and create investment opportunities and to invest in a broad range of sectors such as healthcare, education, leisure, consumer, manufacturing and business and financial services. COMPANY CRITERIA We are looking to invest £2m - £15m in businesses pursuing organic growth, buy and build and multi-site roll out strategies across any of our impact themes. In particular: WHAT WE OFFER • £125m Sustainable Growth Fund III closed October 2013 • Hands-on support from an outstanding team with investment and entrepreneurial expertise • Skills include building consumer brands, execution of multi-site roll outs, marketing, corporate finance and debt raising • A superior network of contacts who can help and add value to our portfolio companies postinvestment • 10 year track record in realising growth and returns GROWTH BUSINESSES Typically with revenues of £5m - £50m, run by strong management teams and looking for investment to fund further growth, change of ownership (MBOs/MBIs) or an acquisition strategy. EARLIER STAGE BUSINESSES Earlier stage businesses targeting a large addressable market that have already achieved significant sales traction, requiring investment to scale. FUND III INVESTMENTS TO DATE ................................................................................................................................................................................................................................................................................................................................................................................................ Orla Healthcare Qbic The Vet Clothing Sites Alina Homecare Wholebake ................................................................................................................................................................................................................................................................................................................................................................................................ Sector: Healthcare Leisure Pet Care E-Commerce Healthcare Services Consumer Domiciliary services Healthy snack food manufacturer ................................................................................................................................................................................................................................................................................................................................................................................................ Medically-led hospital care in the home Design-led value for money hotel Value for money veterinary services Date of Investment: Apr-12 Jun-12 Feb-13 Stage: Start-Up Description: Online menswear retailer ................................................................................................................................................................................................................................................................................................................................................................................................ Mar-14 Apr-14 Jul-14 ................................................................................................................................................................................................................................................................................................................................................................................................ Start-Up Start-Up Growth Capital Growth Capital Replacement and Growth Capital ................................................................................................................................................................................................................................................................................................................................................................................................ Impact Thesis: Health & Well-being Regeneration and Regeneration of employment in underserved areas underserved areas Employment in Health & underserved areas Well-being Employment in underserved areas The Gym - Experts in building growth Opportunity facilities - 35% of members are first-time users • Bridges identified an opportunity to launch a low-cost gym concept in the UK, similar to those launched in the US and Germany Investment • June 2013 - The Gym had over 200k members and a run rate EBITDA of £10.8m • Bridges sold our majority stake in June 2013 • The deal represented a 50% IRR and 3.7x MM • Bridges incubated the idea, wrote the business plan and built the financial model • We identified John Treharne via our network to be a compelling leader for the business • We retained a 25% stake in the company • Transaction won ‘Exit of the Year’ award at the Unquote British Private Equity Awards 2013 • The Gym’s first site was launched in 2008 in Hounslow Impact • Today the group operates over 40 sites offering state-ofthe-art facilities • The new model offers far greater accessibility to gym COMPANY CRITERIA With social and environmental factors increasingly influencing long-term business performance, Bridges believes that companies who make social and environmental factors a core part of their businesses are the companies that succeed. We have an established track record for investing in companies across different sectors with the potential to thrive commercially precisely because they generate positive impact on society. We focus on businesses in sectors such as education and skills, health and well-being or sustainable living. We also focus on ‘consumer champion’ businesses serving underserved markets or companies building economic dynamism in under-invested parts of the UK and Continental Europe. We also work in partnership with the companies we back, utilising our team’s specialist expertise and the outstanding network of contacts of Bridges and its advisory board, to give our investee companies the best chance of realising their potential. THE TEAM Philip Newborough Co-Founder & Managing Partner AIWA, MWB Business Exchange, Apax Ian Taylor Investment Director Citigroup, FL Group Steve Morrison Anne-Marie Harris Alistair Tillen Garret Turley Oliver Wyncoll Mark Blower Partner Partner Partner Investment Director Arthur Andersen, Close Brothers, McQueen Co-CEO, Simply Switch CEO, Pet Doctors HSBC, BZW, Rabobank, Langholm NM Rothschild, Lloyds Banking Group, Gresham David Cockcroft Associate Khidhr Shafiq Alison Price Will Fell Dimithri Gunasinghe Associate Deloitte Associate Deutsche Bank Analyst Baird Capital Partners Analyst LDC Partner, COO Partner Bank of Scotland, Lloyds Banking Group James Hurrell Investment Manager DC Advisory, ISIS JP Morgan About Bridges Ventures Bridges Ventures is a specialist fund manager, dedicated to using an impactdriven investment approach to deliver superior returns for both investors and society at-large. Founded in 2002, the firm currently manages almost £500m across three types of funds: Property Funds, Sustainable Growth Funds and Social Sector Funds. Bridges Ventures’ funds are only available to persons categorised as professional clients. Bridges Ventures acts only for the funds it manages and it does not act for, or offer advice to, any other persons, nor provide them with the protection it offers its client funds. Past performance is not indicative of future performance. Bridges Ventures LLP is authorised and regulated by the Financial Conduct Authority. Registered in England No OC367510. Bridges Ventures LLP 38 Seymour Street, London, W1H 7BP Tel: 020 7262 5566 [email protected] www.bridgesventures.com