Duke Street Capital

The firm which is based in London was founded in 1988 as Hambro European Ventures, the private equity investment arm of Hambros Bank. The principals of the firm completed a spinout from Hambros in 1998, following the bank's sale to Société Générale, and changed the name of the firm to Duke Street Capital Management Services{{Cite web |date=June 2007 |title=Memorandum submitted by Duke Street Capital |url=https://publications.parliament.uk/pa/cm200607/cmselect/cmtreasy/567/567we41.htm |access-date=27 November 2023 |website=House of Commons - Treasury}} and in 2008 to Duke Street Management Services.{{Cite web |title=DUKE STREET CAPITAL LIMITED overview - Find and update company information - GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/03565631 |access-date=2023-11-27 |website=Companies House |language=en}} In June 2013, Duke Street sold a 35 per cent stake in itself to Tikehau Group, a French fund manager.{{Cite web |title=Tikehau buys 35% stake in Duke Street |url=https://www.ft.com/content/a6782636-de58-11e2-b990-00144feab7de |access-date=2023-11-28 |website=www.ft.com}}{{Cite web |last=Sormani |first=Angela |date=2013-06-27 |title=Duke Street and Tikehau Announce Strategic Partnership |url=https://www.pehub.com/duke-street-tikehau-announce-strategic-partnership/ |access-date=2023-11-28 |website=PE Hub |language=en-US}} In August 2018, the company rebranded as Duke Street Capital.{{Cite web |date=23 August 2018 |title=Certificate of Incorporation on Change of Name |url=https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/BHvvnMW714Ad95YW_BXsX0EN194OXOxCYWs_mQg4LTI/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAWRGBDBV3HNZW4ZFG%2F20231127%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20231127T211445Z&X-Amz-Expires=60&X-Amz-Security-Token=IQoJb3JpZ2luX2VjEFAaCWV1LXdlc3QtMiJGMEQCIDwYijHLRSv5g53IRlasm9VOP0KXB810z1RnMeuKRHfeAiBKZZLqsgmyqZRMz0zA3VL4U2u6xXRA%2BnagBMzrwzbjgirEBQip%2F%2F%2F%2F%2F%2F%2F%2F%2F%2F8BEAQaDDQ0OTIyOTAzMjgyMiIMh%2FPNuiotFsYC8d1AKpgF8LCsehMM6m0O9BJv%2BS54Z3ZS67LfxZ1wynQm%2BbFE3yi3AKP9XK8v8Yl2AOCTugewg9eo2Wazyt2RCOOduai9t4WmcdQ3IUPyEo9zkdgA9Ehbx7OQB%2FBtx%2BpqOrySTrmR3aq2vgkygwChbQpffaVFYajuraYP%2F2xtZjppaVHV0RMh1oXW9GUxsVYWSO5CHEW3lpmnEMYjxPxScmjgFM8zIe4blbxbnsOuGstffuTZYzgMCCjWzfyHQQFGhPrJzDxugfz8K3zDyB%2FLr6JexTsylqR3mlCO1hrwc546l9nl6xpUh9A0rctKu0PV0ly5W%2FUEDuzdNb%2BQi91TS5NfWmo%2F1sGO8hiIx4TGMAGsUo4oq5MZiKaQQLSZLwKhgvT5HjyAFLUUR0nqaccVDWtHUU6qFQ%2BYOg6rtrS0Hnt%2BJkW4%2BiAGJnh%2BViug621zn53sdr%2BKsZ5fI9DJosylnz6gjLUAU2Qo8RtsnXJHXTVf4URtscmw3Zv4Rj4Fdjp%2BJsNJqAKd%2BT4dmewVpWCdTnBbVlD5CF1mxfpojTGJwU9QgwYAj%2BP9LyVTdZEtKFqw9mkma14acRag1wivxSFok5C%2FB7yjuqNhOwOsoXKJV6SJ%2BQKElT4j4zL2sOyD%2FAxfewwMOwVNau70Nxe5bWyxsiaILauJ%2F2sK9BmfX3woRSX%2F8LDra%2BmwguhdG0RLdPyxr%2B50R5BcJE9tf%2BL6FVEwuwSPH44cSkgKQI9LeCLWLYBeGjb9XkH1srWWDHxycP%2BpoxBVS7qTc%2BSpM7ZqYY2CsBuytxfxJiH0EGseHcxzjQJBRS5ioboQRpWlbEndbL6I9GojB1s%2FonggLga%2FoQuNlqyyD581sBA2SIy7p5689cwv4vv2VtLlC0BZ%2BmZCWTC3%2FZKrBjqyATWzw9A5N0nvSldpLimYHkKLOUmpIvvX9yD21kimRJE4sc%2FRJ4X2ig%2BvLFtJanN18%2BEZxgOYGkMCtGWqMx0iTidDFaLu8le7%2BAtZPUoD1JDAFlGu56MrBVduR%2FBmbVbgWdlVZnG27a%2Bkz55lJoEI1vR56ahciyVHO8lHAR2cJuTFyduYyyLQ7ueAkvJxWgoquo6gV7%2F9MYQpqY5c4Shmq7Re%2F9WTGD46pO4siG507GWc%2BLI%3D&X-Amz-SignedHeaders=host&response-content-disposition=inline%3Bfilename%3D%22companies_house_document.pdf%22&X-Amz-Signature=85ae1d52e6bb87adf3e10755853ebfae48c9187869e6442293d4031e7b3b368f |access-date=27 November 2023 |website=Companies House}} The firm's managing partners are Charlie Troup{{Cite news |last=Chong |first=Liz |date=2023-11-27 |title=Senior dealmaker defects from Permira to Duke St |language=en |work=The Times |url=https://www.thetimes.com/business-money/companies/article/senior-dealmaker-defects-from-permira-to-duke-st-dsshfj2dr63 |access-date=2023-11-27 |issn=0140-0460}} and James Almond.{{Cite web |title=About |url=https://www.dukestreet.com/about.html |access-date=2023-11-27 |website=Duke Street |language=en}}

The firm has raised approximately £2.6 billion since inception across six private equity investment funds.Including funds raised prior to the spinout from Hambros

Duke Street, with Hutton Collins, acquired noodle restaurant chain Wagamama in March 2011 for £215 million from Lion Capital{{Cite web |last=Alves |first=Joice |title=Duke Street Scores 3.4x Multiple on Wagamama Sale |url=https://www.penews.com/articles/duke-street-scores-3-4x-multiple-on-wagamama-sale-20181030 |access-date=2023-07-19 |website=www.penews.com |language=en-GB}}{{Cite news |date=2011-03-24 |title=Duke Street agrees wagamama noodle-chain deal |language=en |work=Reuters |url=https://www.reuters.com/article/wagamama-lion-idUKLDE72N20J20110324 |access-date=2023-07-19}} and announced its funding of the national and international expansion of the business.{{Cite web |last=Gren |first=Christy |date=2011-03-26 |title=Duke Street Capital acquires Wagamama for £215 million |url=https://www.industryleadersmagazine.com/duke-street-capital-acquires-wagamama-for-215-million/ |access-date=2023-07-23 |website=Industry Leaders Magazine |language=en-US}}

In February 2012, Duke Street acquired a majority stake in legal services firm Parabis Group.{{Cite web |last= |date=2012-02-06 |title=Duke Street buys large stake in claims firm Parabis |url=https://www.insurancetimes.co.uk/duke-street-buys-large-stake-in-claims-firm-parabis/1394683.article |access-date=2023-07-23 |website=Insurance Times |language=en}}{{Cite web |title=Private equity house takes majority Parabis stake in law firm LBO first |url=https://www.law.com/international-edition/2012/02/06/private-equity-house-takes-majority-parabis-stake-in-law-firm-lbo-first/ |access-date=2023-07-23 |website=Law.com International |language=en-gb}} In December 2014, Duke Street invested a further £13 million into Parabis Group to support substantial reforms in response to the Legal Services Act 2007,{{Cite web |last=Hyde |first=John |date=2014-12-05 |title=Parabis gets £13m private equity injection |url=https://www.lawgazette.co.uk/practice/parabis-gets-13m-private-equity-injection/5045520.article |access-date=2023-07-29 |website=Law Gazette |language=en}} but in 2015, wrote down their £21.4 million investment.{{Cite web |last=Hyde |first=John |date=2015-11-05 |title=Duke Street writes down £21.4m Parabis investment |url=https://www.lawgazette.co.uk/practice/duke-street-writes-down-214m-parabis-investment/5052018.article |access-date=2023-07-29 |website=Law Gazette |language=en}}

Among the firm's other notable investments are Gala Bingo,[https://www.telegraph.co.uk/finance/2758317/Gala-hits-the-jackpot.html Gala hits the jackpot]. The Telegraph, Mar 2002 Equity Insurance Group,[https://www.nytimes.com/2005/03/17/business/world-business-briefing-europe-britain-insurer-accepts-buyout-bid.html Europe: Britain: Insurer Accepts Buyout Bid]. The New York Times, March 17, 2005[http://www.altassets.com/news/arc/2006/nz9896.php Duke Street and Englefield exit Equity Insurance Group in £570m deal] {{webarchive|url=https://web.archive.org/web/20080612033508/http://www.altassets.com/news/arc/2006/nz9896.php|date=June 12, 2008}}. AltAssets, December 2006 Burton's Foods,[https://business.timesonline.co.uk/tol/business/industry_sectors/consumer_goods/article1386688.ece Duke Street is front-runner in Burton’s Foods race]. The Times, February 15, 2007 Esporta Health Clubs, Getty Images, The Original Factory Shop, LM Funerals, Marie Brizard,[http://www.altassets.com/news/arc/2006/nz8469.php €397m Marie Brizard exit for Duke Street] {{webarchive|url=https://web.archive.org/web/20080307065903/http://www.altassets.com/news/arc/2006/nz8469.php|date=March 7, 2008}}. AltAssets, April 2006 Megabowl Oasis,[https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/privateequity/9322044/Oasis-eyes-sale-to-double-dentist-practices.html Oasis eyes sale to double dentist practices]. The Telegraph, January 9, 2012 Great Mills[https://www.nytimes.com/2000/12/06/business/company-news-british-investment-firm-to-buy-home-improvement-chain.html BRITISH INVESTMENT FIRM TO BUY HOME IMPROVEMENT CHAIN]. The New York Times, December 6, 2000 and Payzone.[https://www.siliconrepublic.com/companies/private-equity-group-takes-69pc-stake-in-payzone Private equity group takes 69pc stake in Payzone]. Silicon Republic, February 8, 2010 In August 2014, Duke Street together with Partners Group and Tikehau, acquired Voyage Care, a British care provider for people with different needs, from HG Capital for the sum of £ 375 million.{{Cite web |date=2014-08-07 |title=Partners Group, Duke Street and Tikehau to lead GBP375m acquisition of Voyage Care - Private Equity Wire |url=https://www.privateequitywire.co.uk/partners-group-duke-street-and-tikehau-lead-gbp375m-acquisition-voyage-care/ |access-date=2025-02-25 |language=en-GB}} In August 2015, Duke Street, with Searchlight Capital Partners, acquired controlling interests in two British construction equipment rental firms, Fork Rent and One Call Hire.{{Cite web |last=Robson |first=Victoria |date=2016-03-02 |title=Duke Street-led consortium acquires Medi-Globe |url=https://www.privateequityinternational.com/duke-street-led-consortium-acquires-medi-globe/ |access-date=2024-11-17 |website=Private Equity International |language=en-GB}} In October 2017, Duke Street, backed by Goldman Sachs, acquired TeamSport Go Karting,{{Cite web |title=How Duke Street acquired TeamSport |url=https://www.london.edu/think/how-duke-street-acquired-teamsport |access-date=2023-07-30 |website=London Business School |language=en}}{{Cite web |date=18 October 2017 |title=Wagamama owner wins race for takeover of go-karting group |url=https://news.sky.com/story/wagamama-owner-wins-race-for-takeover-of-go-karting-group-11086911 |access-date=30 July 2023 |website=sky news}} the largest UK go karting operator ranking second largest globally, which was bought out by management in 2013.{{Cite web |date=2017-10-24 |title=GCA Altium in pole position with TeamSport sale {{!}} TheBusinessDesk.com |url=https://www.thebusinessdesk.com/northwest/news/2011807-gca-altium-pole-position-teamsport-sale |access-date=2023-07-30 |website=North West |language=en}}

In July 2018, Duke Street, for a sum of around £100million, became the new owner of Great Rail Journeys, a tour operator that offers escorted worldwide rail tour holidays, based in York.{{Cite web |last= |first= |date=2018-07-02 |title=Great Rail Journeys acquired by Duke Street |url=http://travelweekly.co.uk/articles/306851/great-rail-journeys-acquired-by-duke-street |access-date=2023-08-06 |website=Travel Weekly |language=en}}{{Cite web |date=2018-06-12 |title=Rail travel group sets sale to Duke Street in £100m deal |url=https://news.sky.com/story/rail-travel-group-sets-sale-to-duke-street-in-100m-deal-11402393 |access-date=2023-08-06 |website=Sky News |language=en}}

In June 2021, Duke Street acquired the German consumer gardening products producer and distributor COMPO, based in Münster.{{Cite web |date=2025-03-02 |title=COMPO Group - 2025 Company Profile - Tracxn |url=https://tracxn.com/d/companies/compo-group/__LQ5htWVCyXeIzz86nqeIokW9vVL5ZWHrBrCXpk8xpx0 |access-date=2025-03-22 |website=tracxn.com |language=en}}{{Cite web |date=2021-08-03 |title=Duke Street completes acquisition of COMPO - Private Equity Wire |url=https://www.privateequitywire.co.uk/duke-street-completes-acquisition-compo/ |access-date=2025-03-22 |language=en-GB}}

In November 2022, Duke Street acquired engineering services firm Suir Engineering from Dalkia and EDF Energy.{{Cite web |last=Healy |first=Alan |date=2022-11-15 |title=Waterford's Suir Engineering acquired in deal worth up to €80m |url=https://www.irishexaminer.com/business/companies/arid-41007077.html |access-date=2023-07-16 |website=Irish Examiner |language=en}}{{Cite web |date=2022-11-14 |title=Suir Engineering acquired by UK private equity group Duke Street |url=https://www.independent.ie/business/irish/suir-engineering-acquired-by-uk-private-equity-group-duke-street/42142495.html |access-date=2023-07-16 |website=Independent.ie |language=en}} In July 2024, Duke Street acquired Agito Medical, a provider of medical imaging equipment, spare parts and pre-owned equipment based in Aalborg, Denmark, from Philips for an undisclosed amount.{{Cite web |date=2024-07-17 |title=Private equity firm acquires medical imaging equipment supplier from Philips |url=https://radiologybusiness.com/topics/healthcare-management/mergers-and-acquisitions/private-equity-firm-acquires-medical-imaging-equipment-supplier-philips |access-date=2024-11-16 |website=radiologybusiness.com |language=en}}{{Cite web |title=PE firm Duke Street acquires AGITO Medical from Philips |url=https://www.dotmed.com/news/story/63303 |access-date=2024-11-16 |website=dotmed.com}}{{Cite web |last=Powell |first=Katherine |date=2024-09-06 |title=AGITO Medical has been acquired by Duke Street: here’s to new beginnings |url=https://www.radmagazine.com/agito-medical-has-been-acquired-by-duke-street-heres-to-new-beginnings/ |access-date=2024-11-16 |website=RAD Magazine |language=en-GB}}

In December 2024, Duke Street acquired ForLife Group, a distributor of specialist stoma care products in the German and UK markets, from German healthcare provider GHD Gesundheits GmbH in a carve out deal.{{Cite web |title=Duke Street carves out stoma care provider ForLife from GHD GesundHeits |url=https://realdeals.eu.com/article/duke-street-carves-out-forlife-from-ghd-gesundheits |access-date=2025-02-27 |website=Real Deals |language=en}}{{Cite web |last=Herbert |first=Nick |date=2024-12-02 |title=Germany: Duke Street acquires ForLife in Germany and Trio in UK |url=https://www.investorsinhealthcare.com/articles/category/news/germany-duke-street-acquires-forlife-in-germany-and-trio-in-uk/ |access-date=2025-02-27 |website=Investors in Healthcare |language=en-GB}}

{{reflist|2}}

• [http://www.dukestreet.com Duke Street] (company website)
• [http://findarticles.com/p/articles/mi_qn4158/is_/ai_n15991412 Duke Street plans fresh fund]. Independent, The (London), January 9, 2006
• [https://web.archive.org/web/20121022185900/http://www.highbeam.com/doc/1P2-4634443.html Hambro capitalist ventures out the door.] Independent, The (London), February 9, 1994
• [http://www.euromoney.com/Article/1002726/Article.html Edmund Truell: CEO, Duke Street]. Euromoney, January 2003
• [https://publications.parliament.uk/pa/cm200607/cmselect/cmtreasy/567/567we41.htm Memorandum submitted by Duke Street Capital to the UK House of Commons Select Committee on Treasury]. June 2007

{{private equity firms}}

Category:Private equity firms of the United Kingdom

Category:Financial services companies established in 1988

Category:Financial services companies based in London

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