Ruffena Capital advises upon the successful fund raising and completion of a £3.25m management buy out of the market leading bottled gas business, SGS Gases, which will also pave thew way for expansion of the business into Benelux and Spain.
Ruffena Capital Ltd are delighted to announce that working with one of their leading investment funds, they have completed the management buyout of SGS Gases, a west country based business that has grown to become the UK’s leading independent gas supplier to the motor industry.
The management team are led by Alan Holly and his son James who bought out the original founders’ shares as part of the next chapter for SGS Gases which will also see the expansion of the company into Europe.
Alan Holly says “I am grateful to be able to reward my former partners for their commitment in helping to build this business, the belief they have shown and of course their hard work. I am privileged to be able to now build on their efforts, expanding SGS Gases into the European market.”
Investment strategy and funding was advised upon and arranged by Ruffena Capital, working with one of their long standing relationships in the private equity sector. The transaction was completed in February 2018 and structured as a blend of debt and equity.
GLBC, the business consultancy arm of Gregg Latchams, based in Bristol acted for the management team and Clarke Willmott acted for sellers.
Robin Rowland Hill of Ruffena Capital added “It was clear first being introduced to Alan at SGS, that they had an unusual but compelling business of the type that some of our investors and funds would quickly appreciate. Working with Alan and his team and Paul at Gregg Latchams, we were delighted to be able to help deliver a smooth and timely investment that put Alan in the driving seat and matched his vision with the right financial backers.”
Paul Hardman, Director of Gregg Latchams and Head of Company Commercial say “We were delighted to be able to help Alan achieve his ambitions on this matter. It is a testament to the disruptive nature of their proposition - challenging the existing models - that after only eight years, they have achieved a very profitable business. Alan has done remarkably well, delivering a service that offers its customers a different way to purchase gas that is particularly suited to the low volume user. It is a tribute Alan that he has the ambitions to prove himself again in the European arena.”
ABOUT RUFFENA CAPITAL
Established in 2013, Ruffena Capital has evolved to become a boutique private equity advisory business with its own investment platform - focused on raising true growth capital or alternative finance, typically in the £2-10m range for its clients. Ruffena’s investors are largely a private audience of experienced UK and international investors, funds, family offices and certain wealth managers, who prefer established, highly tangible opportunities that can demonstrate the ability to scale and generate returns. Ruffena secured or advised upon over £42m going into client projects over the 2016-17 financial year. In the current year this has risen significantly and Ruffena has also had two clients IPO and one full exit in 2017-18. Ruffena does take on some earlier stage projects, however they must emphatically demonstrate thorough planning; tangible commercial potential; and a workable investment proposition.