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Portfolio News May 2010

Altitude Launch the Region's First Private Equity Fund

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The arrival of the region’s first locally-based private equity firm has been hailed as a major boost to the South Coast’s economy as it looks to invest around £10m in local businesses over the next 12 months.

Based at International House near Southampton Airport, Altitude Partners LLP has and will continue to secure funding from local private investors to enable amounts of up to £3million to be invested into established regional businesses. Altitude will invest in companies to enable organic growth, growth through acquisition and to help existing management teams undertake Management Buy-outs.

Altitude Partners is the brainchild of Simon White and Jonathan Simm, who share over 30 years private equity experience between them.

Of the launch Simon White said: “This business model is unique. We are dealing with private investors who live locally and we are investing their money into companies that operate in the region – this provides us with not only more knowledge of the market, but an ability to work more closely with both our investors and our portfolio of companies.”

Jonathan Simm said: “The funding climate for companies is difficult but there are many excellent regional companies in the South with expansion opportunities. The lack of readily available funding is now holding many back and we can provide investment to help companies in the region position themselves to capitalise on the upturn.

“We have significant sums to invest and are in a position to bring both investment and strategic help, together with a wide base of influential contacts. Having both been in operational management, we also understand the needs and frustrations of trading businesses and can therefore take all investment decisions from a practical commercial viewpoint.”

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