Better Capital

Better Capital is a British Private equity firm founded by Jon Moulton in 2009.{{cite web |url=http://www.bettercapital.london/team.cfm |title=The Team - Better Capital LLP |publisher=Bettercapital.london |accessdate=2015-11-19 |archive-url=https://web.archive.org/web/20150429054734/http://www.bettercapital.london/team.cfm |archive-date=2015-04-29 |url-status=usurped }}

Investments

Better Capital has had investments in the following companies:

  • In February 2010, Better Capital acquired Gardner Group from The Carlyle Group{{Cite web |last= |first= |title=Better Capital acquires Gardner Group from Carlyle |url=https://www.penews.com/articles/better-capital-acquires-gardner-group-from-carlyle-20100210 |access-date=2023-09-03 |website=www.penews.com |language=en-GB}}
  • In April 2010, Better Capital acquired Reader's Digest UK from administrators Moore Stephens, backing a management buyout{{Cite news |last=Wray |first=Richard |date=2010-04-09 |title=Jon Moulton buys Reader's Digest UK from administrators Moore Stephens |language=en-GB |work=The Guardian |url=https://www.theguardian.com/business/2010/apr/09/readers-digest-sale-private-equity |access-date=2023-09-03 |issn=0261-3077}}{{Cite news |last=Sweney |first=Mark |date=2010-04-09 |title=Reader's Digest UK bought by Jon Moulton firm in £13m deal |language=en-GB |work=The Guardian |url=https://www.theguardian.com/media/2010/apr/09/readers-digest-uk-jon-moulton1 |access-date=2023-09-03 |issn=0261-3077}}
  • In July 2011, Better Capital acquired a majority stake of Fairline Yachts{{cite web|author= |url=http://www.mby.com/news/fairline-is-bought-by-better-capital-limited-and-rbs/ |title=Fairline is bought by Better Capital Limited and RBS - Motor Boat & Yachting |publisher=Mby.com |date=2011-07-12 |accessdate=2015-11-19}} in a joint venture with Royal Bank of Scotland{{Cite web |last= |title=Better Capital injects more at Fairline |url=https://www.boatingbusiness.com/better-capital-injects-more-at-fairline/291086.article |access-date=2023-08-14 |website=Boating Business |language=en}}
  • In April 2012, Better Capital acquired fashion chain Jaeger{{cite web |url=http://fashion.telegraph.co.uk/article/TMG9206677/London-Fashion-Week-label-Jaeger-bought-out-by-Better-Capital.html |title=London Fashion Week label Jaeger bought out by Better Capital - Telegraph |publisher=Fashion.telegraph.co.uk |accessdate=2015-11-19 |url-status=dead |archiveurl=https://web.archive.org/web/20151119233338/http://fashion.telegraph.co.uk/article/TMG9206677/London-Fashion-Week-label-Jaeger-bought-out-by-Better-Capital.html |archivedate=2015-11-19 }} (entered administration in April 2017){{Cite news |last=Sullivan |first=Conor |date=2017-04-10 |title=Jaeger falls into administration putting 700 jobs at risk |work=Financial Times |url=https://www.ft.com/content/289ba10e-1e08-11e7-a454-ab04428977f9 |access-date=2023-08-15}}
  • In April 2013, Better Capital acquired City Link{{cite web|url=https://www.bbc.co.uk/news/business-22335092 |title=Rentokil sells City Link for £1 to Better Capital - BBC News |publisher=Bbc.co.uk |date=2013-04-29 |accessdate=2015-11-19}}{{Cite news |date=2013-04-29 |title=Rentokil Initial sells City Link to Jon Moulton’s buyout group |work=Financial Times |url=https://www.ft.com/content/40b8a668-b0c2-11e2-80f9-00144feabdc0 |access-date=2023-08-10}} from Rentokil Initial (in administration, December 2014){{Cite news |date=2014-12-25 |title=City Link parcel delivery company goes into administration |language=en-GB |work=BBC News |url=https://www.bbc.com/news/business-30602326 |access-date=2023-08-10}}
  • In September 2015, Better Capital sold Fairline Yachts to Wessex Bristol{{Cite web |last= |title=Wessex Bristol acquires Fairline Boats |url=https://www.boatingbusiness.com/wessex-bristol-acquires-fairline-boats/621188.article |access-date=2023-08-14 |website=Boating Business |language=en}}
  • In 2012, Better Capital acquired Everest,https://www.altassets.net/private-equity-news/by-news-type/deal-news/moultons-better-capital-buys-everest-windows-for-25m.html{{cite web|url=https://www.altassets.net/private-equity-news/by-news-type/deal-news/moultons-better-capital-buys-everest-windows-for-25m.html |title=Moulton's Better Capital buys Everest Windows for £25m - AltAssets Private Equity News |publisher=Altassets.net |date=2012-03-29 |accessdate=2015-11-19}} and in 2020 re-acquired the operations of the company in a pre-pack administration deal.{{Cite news |last=Ralph |first=Alex |date=2023-08-10 |title=Pre-pack deal was best bet for Everest |language=en |url=https://www.thetimes.com/business-money/markets/article/pre-pack-deal-was-best-bet-for-everest-56hsnvdfl |access-date=2023-08-10 |issn=0140-0460}}

In 2020, the firm delisted from the stock market after their investee companies suffered huge disruption to their businesses during the COVID-19 pandemic.{{Cite news|title=Better Capital trusts delist as Covid-19 presents private equity funds with a new crisis|language=en|work=Citywire|url=https://citywire.co.uk/investment-trust-insider/news/better-capital-trusts-delist-as-covid-19-presents-private-equity-funds-with-a-new-crisis/a1340174|access-date=2020-10-03}}

Former Investments

  • Northern Aerospace Limited{{Cite news|url=https://citywire.co.uk/investment-trust-insider/news/better-capital-frustrated-as-northern-aero-sale-cleared/a1140043|title=Better Capital 'frustrated' as Northern Aero sale cleared|work=Citywire|access-date=2019-04-11|language=en}}{{Cite web|url=http://www.stockmarketwire.com/article/5565887/BECAP-Fund-disposes-of-Gardner-Aerospace-for-pound326m.html|title=BECAP Fund disposes of Gardner Aerospace for £326m {{!}} 12 June 2017 {{!}} Stock Market Wire|website=www.stockmarketwire.com|access-date=2019-04-11}}

References

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