Primary Capital III

Primary Capital III is a private equity fund managed by Primary Capital Partners, a firm established in 1994 and headquartered in London, with an additional office in Manchester. The fund primarily focuses on lower middle market management buyouts and buy-ins, targeting investments in companies valued between £10 million and £100 million, particularly within the United Kingdom and continental Europe, with a strong emphasis on Germany. It seeks to invest in sectors such as consumer products and services, business and support services, leisure, information technology, and industrial products. Investments typically range from £5 million to £50 million, with the firm aiming to hold its investments for three to eight years. Primary Capital Partners takes an active role in its investments by securing board positions and collaborating closely with management teams to foster growth and enhance business value.

Charles Gonszor

Founder and Senior Partner

Graham Heddle

Partner and Member of Investment Committee

Pete Lyons

Investment Director

Neel Mehta

Finance Partner

Oliver Melliss

Partner

Alec Parkinson

Managing Partner and Member of Investment Committee

David Richard

Investment Director

Iain Wolstenholme

Partner and Member of Investment Committee

30 past transactions

Sigma Sports

Private Equity Round in 2021
Sigma Sports Ltd is a retail company based in Hampton Wick, United Kingdom, specializing in cycling, running, and triathlon products. The company offers a wide selection of bicycles, cycling shoes, clothing, accessories, and nutritional products. Sigma Sports serves its customers through both physical stores and an e-commerce platform, ensuring a diverse range of gear and equipment to meet the varying needs of athletes and outdoor enthusiasts.

Automated Systems Group

Acquisition in 2019
Automated Systems Group Ltd. supplies reprographic and print solutions in the United Kingdom. The company’s supply portfolio includes mono printers and copiers, color printers and copiers, large format printers and copiers, fax and franking machines, duplicator printers, multi-function printers, and digital black and white copiers. It also offers software solutions for document management and print/copy accounting; and a print management software solution that can be loaded on the client’s network to obtain meter readings, toner levels, and device management alerts.

ICS Learn

Acquisition in 2018
ICS Learn is a distance learning organization that provides accessible professional education since 1889. It aims is to make learning as accessible as possible, allowing students to get the skills, training, and qualifications they want, in a way that lets them decide when, where, and how they learn.

Metamark

Acquisition in 2017
Metamark is a manufacturer and distributor specializing in self-adhesive sign vinyl, digital print media, and specialty materials. Founded in 1992, the company caters to various industries, including graphics, décor, vehicle wrapping, large fleet operations, and construction. Metamark provides a diverse array of products such as signboards, labels, and banners, which assist clients in effectively promoting their products and services. Through its focus on quality and innovation, Metamark has established itself as a key player in the market for cutting and printing materials.

Readypower Engineering

Acquisition in 2017
Readypower Engineering Ltd is a leading provider of plant and equipment hire services for the construction and railway sectors in the United Kingdom. Established in 1992 and headquartered in Wokingham, the company offers an extensive range of rail plant equipment, including mobile elevated work platforms, wheeled and tracked excavators, dozers, dumpers, cranes, trailers, and various hydraulic attachments. In addition to rail-related equipment, Readypower Engineering supplies civil engineering and construction machinery, such as mini excavators, heavy plant, dump trucks, and telehandlers. Recognized as the third largest supplier of rail plant in the UK, the company maintains a commitment to delivering professionally-operated plant hire services across the country.

Maple Gold Mines

Post in 2016
Maple Gold Mines Ltd. is a Canadian gold exploration company focused on advancing its Douay gold project, which encompasses 666 mineral claims over an area of approximately 355 square kilometers in the Abitibi Greenstone Belt of northern Quebec. This region is recognized as one of the world’s premier mining jurisdictions. Established in 2010 and based in Montreal, the company was previously known as Aurvista Gold Corporation before rebranding in November 2017. Maple Gold Mines is well-funded and aims to develop its district-scale gold project, contributing to the mining sector in Canada.

XTI Aircraft Company

Series B in 2016
XTI Aircraft Company, founded in 2012 and based in Englewood, Colorado, specializes in the development of vertical takeoff and landing (VTOL) aircraft. The company's flagship model, the TriFan 600, is designed as a six-passenger airplane capable of vertical takeoff and landing, facilitating point-to-point air travel over distances of up to 700 miles. This innovative aircraft aims to significantly reduce carbon emissions compared to conventional jet aircraft and helicopters. The TriFan 600 is envisioned for diverse applications, including private and commercial aviation, as well as emergency medical services. XTI Aircraft Company is committed to addressing the evolving needs of modern travelers through advanced technology and a customer-focused approach.

Maru Group

Private Equity Round in 2016
MARU Group is a customer intelligence professional services firm delivering information and insight services. Operating in multiple countries, MARU Group provides research, insight and advisory services to large enterprises across a broad spectrum of industries and markets. Founded in 2016, MARU Group's core area of expertise is providing fast and strategic customer feedback to corporates through a variety of technology platforms. Led by market intelligence industry veteran Ged Parton, MARU Group is backed by Primary Capital Partners LLP, a UK-based provider of private equity finance for high potential and growth companies.

GatenbySanderson

Acquisition in 2014
GatenbySanderson Limited is a prominent recruitment and assessment firm in the United Kingdom, specializing in senior and interim management roles within the public and not-for-profit sectors. Established in 2002 and headquartered in Leeds, with additional offices in London and Birmingham, the company supports a diverse range of clients, including central and local government, health, education, and social care organizations. GatenbySanderson focuses on sourcing chief executives, senior management teams, and non-executive board members, particularly in complex and regulated environments. By providing tailored recruitment solutions, the firm aims to help its clients effectively appoint and develop leaders capable of navigating challenging roles and driving organizational change.

Strategic Oil & Gas

Post in 2014
Strategic Oil & Gas is an emerging junior oil and gas company that explores and develops oil and gas properties. The primary business is upstream oil and gas exploitation and development. Their sub-surface technical capabilities lead the industry in geology, geophysics, engineering, and petrophysics analysis. It is committed to building a premier oil company through the development of its concentrated land and reserve base, and the integration of its wholly-owned and operated sales infrastructure.

Leisure Pass

Acquisition in 2012
The Leisure Pass Group Limited specializes in sightseeing and tourism technology, focusing on the development and management of city passes for popular destinations worldwide. These passes offer holders free or reduced entry to various attractions at a low cost, covering cities such as London, Paris, Berlin, and Dublin. The company also operates management systems like LPOS and the Live Platform, which facilitate the processing of city passes for numerous other cities, including Vienna, Philadelphia, New York, and Singapore. In addition to its core offerings, the Leisure Pass Group provides web marketing solutions for city card providers and consultancy services to assist cities and operators in implementing tourism projects. Founded in 1998 and based in London, the company was formerly known as Arrival Marketing Limited until it rebranded in 2001.

PaperChase

Acquisition in 2010
Paperchase is an epic, story-based endless runner game. Players must collect treasure hidden in vast cities while fighting against evil Kirigami giants and protecting mankind from annihilation by protecting the mystical Great Seal.

AMTECH Group

Acquisition in 2010
AMTECH Group specializes in developing software tailored for the building services industry in the UK. Its product offerings cater specifically to the needs of building service engineers and contractors, encompassing well-known brands such as Amtech, Luckins, and Estimation. A notable feature of AMTECH's software is the seamless integration between various applications, allowing for efficient workflows, such as combining electrical design software with certification tools. This focus on industry-specific solutions positions AMTECH as a key player in enhancing operational efficiency within the building services sector.

Pacific Direct

Acquisition in 2008
Pacific Direct is the toiletries supplier and manufactures.

Napier

Acquisition in 2008
Napier is a world leader in the design, manufacture and support of industrial turbochargers. Napier turbochargers run on fuels ranging from marine diesel oil and natural gas to varying qualities of HFO and landfill gas. You will find them across the globe, providing reliable performance in some of the most arduous environmental conditions year after year.

Tobar Group

Acquisition in 2006
TOBAR Group Trading Ltd is the parent company of well-loved British retailers Hawkin’s Bazaar and Stocking Fillers, and wholesale companies TOBAR and TOBAR France. As a multi-brand organisation, the group operates through a variety of channels, including a group of core Hawkin’s Bazaar shops in key locations across the UK; wholesale operations through TOBAR head office, as well as through a range of international distributors; a mail order catalogue service for Hawkin’s Bazaar and TOBAR; and an online offering for each one of the group’s companies. TOBAR Group Trading Ltd’s retail brands offer unique product ranges to suit every kind of customer, from busy mums and dads, traditional toy fans and education advocates, right through to gadget-lovers, young pranksters and pocket money toy enthusiasts.

FoneStarz Media

Venture Round in 2006
FoneStarz Media specializes in the retail of mobile entertainment content, serving mobile network operators across various countries. The company operates a proprietary merchandising and delivery platform utilized by 11 mobile operators in eight nations, including prominent names such as Vodafone, Hutchison 3, and O2. FoneStarz has established partnerships with several Tier 1 and Tier 2 operators and has content aggregation agreements with leading handset manufacturers like Nokia, Sony Ericsson, Samsung, and LG. The firm holds content licenses with over 140 media companies, including well-known brands such as Disney, Playboy, Turner, American Greetings, and Manchester United. In addition to content retailing, FoneStarz offers services in licensing, development, and management of mobile content, ensuring comprehensive support for its clients in the mobile entertainment sector.

Great Rail Journeys

Acquisition in 2005
Great Rail Journeys Ltd. specializes in providing escorted rail holidays to diverse destinations across six continents, including Europe, Africa, America, Canada, the Far East, Russia, India, and Australia. Founded in 1980 and based in York, United Kingdom, the company focuses on creating enriching travel experiences that incorporate scenic railway journeys, cultural excursions, and sightseeing tours. Great Rail Journeys aims to simplify travel planning by offering comprehensive services such as tour advisory, booking, ticketing, rail planning, and management. By handling the logistics, the company allows travelers to fully immerse themselves in the unique sights, sounds, and tastes of each destination. Originally known as Mac’s Tours until its name change in 1994, Great Rail Journeys is recognized for its commitment to delivering hassle-free and memorable travel experiences.

Esteem

Acquisition in 2004
Esteem is an aggregator of cloud services and on-premise solutions. Teamed with market leaders and emerging players in IT, the company deliver fully supported, enterprise-class technology to its customers across the UK. For over 30 years, Esteem innovates, designs, implements, and manages IT systems, enabling its customers to achieve their business goals with superior IT.

Rhyme Systems

Acquisition in 2003
Rhyme Systems is the UK asset management back-office operations software company, providing investment management and post trade.

InBond

Acquisition in 2003
InBond provides a wide range of logistics services including supply chain management, document management and general and bonded warehousing. With over 20 years’ experience, InBond provides specialist warehousing and logistics solutions for a range of clients from public sector organizations to manufacturing companies, alcoholic drink, and food producers.

YO! Sushi

Acquisition in 2003
YO Sushi UK Ltd. operates a chain of sushi restaurants. The company offers various Japanese dishes, including soups, rice or noodle-based dishes, salads, tempuras, sashimi, hand rolls, and desserts. It also offers space for parties and events.

The Works

Acquisition in 2003
The Works is a retailer of discounted and remaindered books and also sells art materials, gifts, stationery, and DVDs. The company stocks books, toys, gifts, stationery, and arts & crafts at discount prices, and sell over one million of products to consumers looking for a bargain. It is the place where people and families will find a bazaar of fantastic value treats destined to inspire imagination. The Works is based in Coleshill, United Kingdom.

Thompson & Morgan

Acquisition in 2002
Thompson & Morgan is a horticultural brand selling young plants, bulbs, nursery stock plants, flower and vegetable seeds, fruit, potatoes, and garden accessories. It sells through a variety of channels including catalogue, online, retail, readers offers and promotions, and TV shopping. Thompson & Morgan established on 1955 and is based in Ipswich, England.

Becom

Acquisition in 2001
Becom is a reseller of IBM hardware, software and services. Its main customers were medium and large German corporations, as well as public bodies.

Coffee Nation

Acquisition in 2000
Coffee Nation is a provider of premium quality, self serve gourmet coffee in UK. We work with over 800 coffee partners in a variety of sectors including retail, leisure, forecourts, education and healthcare.

Elisabeth The Chef

Acquisition in 1999
Elisabeth The Chef is a privately held company based in Leamington Spa, United Kingdom, that specializes in manufacturing high-quality chilled bakery products, including cream cakes, hot puddings, and a variety of desserts. Founded in December 1928, the company focuses on delivering both innovative and traditional confectionery options. It caters primarily to leading grocery retailers and food service operators, providing private label products that reflect the latest market trends. With a dedicated team of chefs and bakers, Elisabeth The Chef is committed to producing inspiring desserts that meet the evolving needs of its customers. As of November 30, 2017, the company operates as a subsidiary of Country Style Foods Ltd.

Pegasus Security Holdings

Acquisition in 1998
Pegasus is one of the top providers of manned guarding services to both Public and Private sector customers. The company has an impressive range of clients including the Foreign & Commonwealth Office, QE II Conference Centre and the London Eye, as well as some existing ISS customers such as Marsh Ltd.

The British Pepper & Spice

Acquisition in 1998
The British Pepper & Spice is a manufacturer based in Northamptonshire, United Kingdom, specializing in dried herbs, spices, and seasonings. The company processes, packs, and markets a diverse range of products, including traditional condiments, table sauces, ingredient pastes, and blended curry powders. Catering to both retail and wholesale food service companies, it serves a wide array of customers, including food manufacturers. The British Pepper & Spice emphasizes not only efficient ordering and delivery but also fosters genuine partnerships with its clients, engaging in areas such as new product development, supply chain management, and marketing initiatives. This commitment to collaboration supports customers in enhancing food safety and flavor in their offerings.
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