Endless LLP Wins Yorkshire Post Excellence in Business Awards...
Date: 22 October 08
Endless was awarded Yorkshire’s Young Business of 2008 at a ceremony on Friday evening. David Cameron, the Conservative Party Leader as well as the BBC’s Business Editor, Declan Curry, presented the Awards.
The following article was published in The Yorkshire Post on 21 October 2008;
Yorkshire Post Excellence in Business Awards 2008: High profile backing for firm with a fund of experience
By Greg Wright Deputy Business Editor
THE success of Leeds-based Endless is a testament to the strength of Yorkshire's deal-making community.
The buyout and turnaround investor has helped to save and create thousands of jobs over the last three years, by improving the performance of companies with unfulfilled potential.
Endless – which walked away with the Young Business of the Year title in the Excellence in Business Awards – was founded by Garry Wilson and Darren Forshaw, former colleagues at Ernst & Young, in 2005.
It's secured the backing of a string of high profile investors, who know Endless will marshal their resources wisely.
Earlier this year, Endless revealed that it was poised to secure a number of high-profile deals after raising £164m for its latest investment fund.
The fund – known as Endless Fund II – was the first institutionally-backed fund for Endless.
Fund II is supported by investors drawn from global private equity funds, and a number of major European and United States-based family offices and foundations.
Large deals secured by the firm to date include the disposal of Keighley-based Peter Black International to Chinese trading firm Li & Fung, which resulted in more than £50m of equity value being generated in just over a year.
Recently, Mr Wilson highlighted that many of the businesses in his portfolio were performing strongly in tough trading conditions, including The Works, which is a bargain bookshop chain. Another firm, Davy Markham, a big engineering business in Sheffield, has been boosted by the flight to commodities. It recently won a $20m contract in Canada.
To assess the calibre of Endless, you just need to look at its investors. The New York State Retirement Fund is one of these investors, along with a fund linked to American football legend Joe Montana.
Another investor – who can't be named – is the chief executive of one of the world's best known internet search engines. Three of the US investors are based in California, while the European investors have their headquarters in Switzerland, Paris, Munich and London.
To illustrate the difference Endless can make, Mr Wilson cites the case of Manchester-based Neville Johnson, one of Britain's biggest fitted furniture manufacturers. Endless invested in the company in the nick of time, saving around 150 jobs in the process.
Neville Johnson was recently sold following a highly successful two-year turnaround. Endless rescued the business the day before it was due to go into administration.
Neville Johnson has just been shortlisted as Turnaround of the Year by the Institute for Turnaround. Endless has also expanded across the UK regions, with offices in Leeds, Manchester, Birmingham and Ireland.
Previous
|
Next
Back to Internal Press Releases
Back to top