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Graphite Capital collects over 470 mln pounds for ninth fund

UK-based mid-market private equity firm Graphite Capital has raised over 470 million pounds for its ninth fund. The fund will invest mostly in companies valued at between 30 million pounds and 150 million pounds.


Graphite Capital, the leading UK mid-market private equity specialist, has announced the completion of fundraising for its ninth fund, Graphite Capital Partners IX. The new fund has commitments of over £470m, slightly more than the £450m raised for its previous fund.

Graphite was able to reach its target quickly, with existing investors providing 75% of the capital raised. In total, 25 investors have committed to the fund of which nine are new, attracted by Graphite’s strong performance over the past decade, its long-term track record and the stability of its team. The fund has a broad geographical spread, with 44% of commitments coming from the UK, 40% from continental Europe, and the remainder from the US and Japan.

Graphite will maintain its mid-market focus, investing primarily in companies with high growth potential, valued at between £30m and £150m. It will also invest in smaller companies with the potential to expand through the roll-out of new sites. The fund is likely to make between eight and twelve investments.

Graphite managing partner, Andy Gray, commented: “We are delighted to have raised a fund of our target size so quickly at a time of political and economic uncertainty. We are particularly pleased to have received such strong support from continental European investors for a UK-only fund. Graphite has an excellent record of generating high returns in challenging environments and we are confident of seeing a range of exciting opportunities over the next few years.”

Managing partner Markus Golser added: “We remain committed to the mid-market. We have built up an excellent network of contacts over many years, have very strong deal flow and have developed an in-depth knowledge of how to grow mid-market companies across a broad range of sectors. The new fund is of the optimal size to allow us to address a wide range of deal sizes.”

About Graphite Capital
Graphite is a specialist provider of private equity finance to mid-market companies in the UK. Graphite focuses on management buy-outs and also invests in replacement capital, expansion finance and turnaround opportunities. It backs companies with enterprise values of £30m to £150m.

In September 2013, Graphite raised £450m for its eighth fund, Graphite Capital Partners VIII. It also raised a top-up fund of £50m. The fund’s investments include: City & County Healthcare Group, the UK’s largest home care provider; nGAGE, a diversified recruitment business serving a range of niche areas within the public and private sectors; ICR, an energy industry repair and maintenance group; Trenchard Aviation, a civil aircraft maintenance business focusing on cabin services; New World Trading Company, an operator of pub restaurants; and Beck & Pollitzer, a market leader in industrial machinery installation and relocation.

Graphite’s previous fund invested in a wide variety of businesses including: Kurt Geiger, the luxury shoe retailer; Alexander Mann Solutions, the global market leader in recruitment process outsourcing; Education Personnel, the leading provider of supply teachers and teaching assistants to state schools in the UK; and London Square, a house-builder focused on prime sites within the M25.

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