NorthEdge Capital hired John Rastrick as a partner in its Leeds, England office. Rastrick will lead the firm’s focus in Yorkshire and the North East. Rastrick most recently worked as a partner at Phoenix Equity Partners, where he worked for eight years. He also worked at 3i.
NorthEdge Capital, the Manchester-based private equity firm focused on investing in businesses in the North of England, has strengthened its team with the appointment of John Rastrick as Partner in its Leeds office.
John will be joining NorthEdge after the summer period with effect from 1 September 2015 and will lead the firm’s investment efforts in Yorkshire and the North East.
A qualified lawyer, John was previously Investment Director at 3i, before moving to Phoenix Equity Partners, where he was Partner for eight years. In this time, John was instrumental in establishing the firm’s Northern presence, opening offices in Yorkshire and the North West.
John Rastrick said: “NorthEdge has developed a reputation as one of the largest and strongest private equity firms in the North of England. It’s an honour to be joining such a high calibre team and I’m very much looking forward to boosting the firm’s presence in Yorkshire and the North East. With the quality and strength of the Northern marketplace and NorthEdge’s track record and dedicated senior resource locally, I’m confident that we’ll be completing a number of successful investments over the next few years.”
Grant Berry, Managing Partner at NorthEdge Capital, added: “We are delighted to be welcoming John to the NorthEdge team at such an exciting time for the firm. A fantastic deal originator and vastly experienced investor, John will be a perfect addition to our already established team in Yorkshire and the North East. Our own growth plans are ambitious and we will continue to work with more and more high growth businesses in assisting them achieve their ambitions.”
NorthEdge has made 11 investments from its maiden fund, representing over £140m of investment into the Northern business community during the last two and a half years.
About NorthEdge Capital LLP
NorthEdge Capital, which operates from Manchester and Leeds, closed its maiden fund at £225m in March 2013, raising funds from 15 global institutional investors and 16 HNWIs. NorthEdge Capital LLP focuses exclusively on Northern-based companies seeking equity investments to support MBOs, development capital and equity release and has to date made eleven investments in Accrol Papers, Fine Industries, FPE Global, Help-Link, Jigsaw24, Ramsdens, Roberts Jackson, Solidor, Sumo Digital, Utiligroup and Total Fitness.
NorthEdge targets the lower mid-market with investment in businesses with an enterprise value of £10m to £100m, although typical transactions will range from £20m to £75m in value with equity investments from £5m to £35m in any one deal.
The senior team at NorthEdge has over 100 years’ experience in structuring and financing private equity transactions. The firm takes a management-orientated approach with a culture of delivery where smart, opportunistic thinking supported by meaningful due diligence and sound perspectives are valued. It focuses on value creation and capital return to the benefit of all stakeholders.