Souter Investments

Souter Investments Limited is a private equity firm founded in 2006 and based in Edinburgh, United Kingdom, with an additional office in Perth. The firm specializes in middle market investments, focusing on later stage and growth capital opportunities, as well as buyouts and corporate carve-outs. Souter Investments holds a diverse portfolio across various sectors, including transport, luxury goods, financial services, healthcare, and legal services, with a preference for investing within the United Kingdom, except for the transport sector, where it considers global opportunities. The firm makes equity investments ranging from £2 million to £30 million and typically seeks equity stakes between 4% and 98% in its portfolio companies. Souter Investments adopts a relaxed exit strategy, often retaining investments for extended periods. As an ethical investor, the firm avoids sectors such as alcohol, gambling, tobacco, and armaments, emphasizing low-risk, high-return opportunities.

John Berthinussen

Managing Director

Calum Cusiter

Managing Director

Stuart Dunlop

Investment Manager

Rhea Ghosal

Investment Manager

Andy Macfie

Chairman

Scott Mackenzie

Investment Director

Maurice Shamash

Investment Director

29 past transactions

SI-UK

Private Equity Round in 2022
SI-UK provides free independent advice and support to international students applying to UK universities.

Stone Group

Acquisition in 2019
Stone Group is an IT provider to the public sector.

DivideBuy

Private Equity Round in 2019
DivideBuy offers Interest-Free Credit through our Retail Partners. A fast application process with an immediate decision means you can choose to Spread the Cost of your purchase with no hidden charges. Your one DivideBuy account can be used across our diverse range of Retail Partners.

DMC Canotec

Private Equity Round in 2018
DMC Canotec is a provider of managed print and document management services. our core values of simplicity, innovation and excellence have helped us grow into one of the largest, most advanced suppliers of document management solutions in Europe.

Broadway Partners Ltd

Private Equity Round in 2018
Broadway Partners Ltd is a provider of broadband services based in London, United Kingdom, with an additional office in Glasgow. Founded in 2011, the company specializes in innovative connectivity solutions, utilizing 5GHz and TV WhiteSpace technology to serve remote rural communities. By leveraging the radio spectrum available from the transition from analogue to digital television, Broadway Partners addresses the unique challenges posed by rural geographies, such as trees, hills, and low population densities, which often hinder traditional radio or fiber options. The company’s focus on technological advancement aims to enhance digital and social inclusion, enabling clients to access reliable broadband services in underserved areas.

CoachHire.com

Venture Round in 2017
CoachHire.com are a market leader in providing coach and minibus transport services in the UK and now in over 100 cities around the world.Coachhire.com provides transport for all occasions to the B2B and B2C markets from shuttles to European Tours. Their unrivalled network of 18,000+ vehicles based at more than 4,000 depots means they are perfectly placed to provide transportation for even the largest contracts and events.

TWMA

Private Equity Round in 2017
TWMA is a global provider of integrated drilling and environmental solutions to the onshore and offshore oil and gas industry. Founded in 2000, TWMA employs over 500 people across its business to help its international clients meet and surpass the demands of legislation by reducing the environmental impact and improving the safety of drilling and associated activities via a single provider solution to manage waste materials throughout the full project life cycle - from exploration to decommissioning.

Ashtead Technology

Private Equity Round in 2016
Ashtead Technology Ltd. specializes in providing integrated equipment solutions for subsea and onshore monitoring and inspection sectors. The company offers a diverse range of rental equipment, including geophysical and hydrographic tools, metocean instruments, non-destructive testing devices, positioning systems, ROV survey sensors, subsea inspection equipment, and visual inspection tools. In addition to rentals, Ashtead Technology sells new and ex-rental equipment. The company also provides offshore personnel for expert guidance and support, along with services such as asset management, cable molding and connectors, calibration, custom-engineered solutions, repair and maintenance, system integration, and training. Established in 1985, Ashtead Technology is headquartered in Westhill, United Kingdom, with additional offices in Abu Dhabi, Houston, London, and Singapore.

Reesby Rotorua

Acquisition in 2015
Reesby Rotorua is a New Zealand tour coach supplier. Our head office is located in Rotorua with bases in Auckland & Christchurch. Our aim is to have the most professional drivers and safest buses to ensure your travel arrangements are hassle free and enjoyable. Reesby Rotorua is part of the New Zealand based InMotion Group who have 340 buses and 19 ferries carrying around 16 million passengers in New Zealand annually. We are proud to achieve the Qualmark Silver award for our tourism business under the new Sustainable Tourism Business criteria. Reesby Rotorua was the first New Zealand urban bus company to receive this Qualmark accreditation.

Nutrisure

Private Equity Round in 2015
Nutrisure Ltd., operating as Supernutrients, is a prominent importer, wholesaler, and retailer of organic food products in Europe, specializing in superfoods and ayurvedic herbs. Founded in 2006 in Bath, England, the company offers a diverse range of products, including ashwagandha, brahmi powder, triphala, and tulsi, as well as various fruits like goji berries and golden berries. Nutrisure also provides cacao and coconut products, including coconut flour and oil, alongside a selection of green superfoods such as spirulina and moringa leaf powder. In addition, the company offers sweeteners like agave and cane-juice crystals, and miscellaneous health products, including chia seeds and reishi mushrooms. Nutrisure serves retail brands through private label design and customization, while also facilitating online sales of its extensive product range, establishing itself as a leading supplier in the European superfoods market.

AMA Homes

Private Equity Round in 2014
AMA is an innovative Edinburgh based property development company with a track record of developing residential, commercial, apart-hotel and student residences of high quality design and workmanship, always complimenting the existing architecture and enhancing the environment in which they were created.

ManaBus

Seed Round in 2014
ManaBus is an internet based intercity express coach operator offering great value travel to 128 destinations.

East Lothian Developments

Private Equity Round in 2014
East Lothian Developments is a 120 acre development site in Wallyford, East Lothian. The development has secured planning permission for the construction of 1,450 new homes, which will include a new primary school, making it one of the largest current residential developments in Scotland. The site is well suited to commuters with easy access to the A1 and a main line train station in Wallyford with a journey time of just 15 minutes to the centre of Edinburgh.

Mobius Life

Acquisition in 2014
Mobius Life Limited is a UK-based unit-linked life insurance company that specializes in providing services for institutional pension schemes, advisers, trustees, individual clients, and asset managers. Established in 1995 and based in London, the company offers a comprehensive investment platform that supports a variety of investment services, including investment administration, the creation of blended and white-labelled funds, trigger monitoring, transition management, and pension scheme reporting. By not representing proprietary funds, Mobius Life minimizes conflicts of interest, allowing clients to implement tailored investment strategies that align with their specific objectives. The company's platform is designed to help trustees consolidate assets and access a diverse array of funds within a highly governed structure. Additionally, consultants and advisers benefit from the platform by focusing on investment advice rather than implementation, while asset managers leverage Mobius Life's life company license to create tax-efficient life-wrapped funds suitable for UK pension schemes. Formerly known as Investment Solutions Limited, Mobius Life changed its name in February 2014 and is a former subsidiary of Alexander Forbes Limited.

Onnibus

Private Equity Round in 2014
OnniBus.com Oy is a Finnish company that operates intercity express coach services, facilitating city-to-city travel across the country. Founded in 2011 and headquartered in Tampere, OnniBus.com also offers parcel delivery services. The company provides an online booking platform, enhancing customer convenience. In May 2014, it rebranded from Onnibus Oy to OnniBus.com Oy. As of October 2018, it functions as a subsidiary of Koiviston Auto Oy, contributing to its role as a significant player in the Finnish intercity transport market.

Global Risk Partners

Private Equity Round in 2013
Global Risk Partners Limited (GRP) is an investment vehicle aimed at insurance brokers and managing general agents trading in the UK retail and global, specialty insurance markets.

Baywater Healthcare

Acquisition in 2013
Baywater Healthcare Ltd. is a specialist provider of homecare services aimed at patients with long-term conditions in the United Kingdom. Founded in 2013 and based in Crewe, the company focuses on delivering high-quality, cost-effective healthcare solutions that facilitate care closer to home. Baywater Healthcare serves over 30,000 patients across the UK, offering a range of services including home oxygen therapy, telehealth, sleep apnoea management, ventilation therapy, nebulizer therapy, and emergency oxygen support. By prioritizing patient mobility, independence, and overall quality of life, Baywater Healthcare plays a vital role in supporting the evolving needs of the National Health Service (NHS). The company operates as a subsidiary of Bastide Le Confort Médical SA, having previously been a subsidiary of Air Products & Chemicals Inc.

Winn Solicitors

Private Equity Round in 2013
Winn Solicitors Limited provides accident claims and accident compensation services in the United Kingdom. It specializes in handling claims for road accidents, including whiplash, car accident, taxi driver, passenger, cyclist, motorcyclist, commercial vehicle, young driver, pedestrian accident, and deaf or hard of hearing road traffic accident compensation claims. The company also provides claims for accidents at work, such as office, industrial, factory, and construction. In addition, it offers accident management services. The company was founded in 2002 and is based in Newcastle-Upon-Tyne, United Kingdom.
The Virgin Group is a leading international branded investment company and one of the world's most recognized and respected brands. Conceived in 1970 by Sir Richard Branson, the Virgin Group has gone on to grow successful businesses in sectors ranging from mobile telephony and media to transportation, travel, financial services, hotels, health and fitness, as well as renewable technologies and space tourism. Virgin has created more than 400 branded companies worldwide, employing approximately 50,000 people, in 29 countries. Its Global branded revenues in 2010 exceeded £11.5 billion (approx. US$18.5 billion).
The Virgin Group is a leading international branded investment company and one of the world's most recognized and respected brands. Conceived in 1970 by Sir Richard Branson, the Virgin Group has gone on to grow successful businesses in sectors ranging from mobile telephony and media to transportation, travel, financial services, hotels, health and fitness, as well as renewable technologies and space tourism. Virgin has created more than 400 branded companies worldwide, employing approximately 50,000 people, in 29 countries. Its Global branded revenues in 2010 exceeded £11.5 billion (approx. US$18.5 billion).

Istanbul Deniz Otobusleri

Acquisition in 2011
Istanbul Deniz Otobusleri (“IDO”) is a ferry company that provides public transport to the people of Istanbul and the wider region surrounding the Sea of Marmara. IDO is one of the largest passenger ferry operators in the world, carrying over 48 million passengers and 10 million vehicles each year, whilst operating over 50 passenger and vehicle ferries.

Argent Energy

Acquisition in 2009
Argent Energy specialises in producing clean, green, road fuel (Biodiesel) from the by-products of other industries, such as tallow, waste derived from the sewers and used cooking oil. Argent Energy pioneered large scale commercial biodiesel production in the UK when it started production at its state of the art plant near Motherwell and now delivers up to 50 million litres (45,000 tonnes) of high quality biodiesel a year.

First Scottish

Acquisition in 2009
First Scottish is independent firm of professional searchers, delivering a comprehensive suite of fast and accurate search services, primarily for the residential and commercial property markets.

Fullers Group

Acquisition in 2009
Fullers Group operates commuter services and tourism experiences.

Neoss

Venture Round in 2009
Neoss is founded on the passion and inspiration of individuals, clinicians, academics and engineers - all seeking to create a better future for patients. It’s this passion that helps them put together a system above all others, a system you can trust and a system that makes a connection which stays forever. The foundations of their system can be seen in forty years of provenance in the rapidly evolving world of dental implants. They are proud to be at the forefront of this evolution with a system that challenges traditional conventions through the simplicity of having just one platform. Coupled with this rich heritage of experience comes their strong affiliations with some of the worlds leading medical device companies and a unique research and development pipeline that creates timeless technologies.

Howick & Eastern Buses

Acquisition in 2008
Howick & Eastern Buses is an urban, commuter, school and charter bus operator based in East Auckland, New Zealand. Part of Souter Investment’s InMotion Group, Howick & Eastern operates a modern and high quality fleet of over 170 buses serving over 6 million passengers per annum.

Mana Coach Services

Acquisition in 2007
Mana Coach Services is the second largest urban, commuter, school and charter bus operator in Wellington, New Zealand’s capital and second largest public transport market. The longest standing investment in Souter Investment’s InMotion Group, Mana Coach operates a fleet of around 100 buses, carrying over 4 million passengers per annum. The business serves the Newlands, Porirua, Kapiti Coast and CBD areas of Wellington from three depots.

OneSearch Direct

Private Equity Round in 2007
OneSearch Direct Limited is a prominent local search data company based in Glasgow, United Kingdom, specializing in providing property information and conveyancing search reports to solicitors. Established in 1992, the company offers a wide range of data products, including regulated local searches, drainage and water reports, land registry searches, environmental assessments, and various insurance products. It also delivers insights related to planning information, coal reports, and rights of access, facilitating the completion of property transactions in England. As of December 2019, OneSearch Direct operates as a subsidiary of Landmark Information Group Limited, enhancing its capacity to serve solicitors and conveyancers with essential property data.

Alexander Dennis

Acquisition in 2004
Alexander Dennis Limited (ADL) is the UK’s leading bus and coach manufacturer, employing around 2,000 people at facilities in the UK, continental Asia and North America. The fastest growing bus and coach builder in Western Europe, ADL encompasses three famous and successful marques – Alexander, Dennis and Plaxton. ADL produces a wide range of innovative and fuel efficient, low floor single and double deck buses, plus a full portfolio of coaches, welfare and mini vehicles. ADL products offer real operator, passenger and environment benefits, all backed by an unswerving commitment to world class customer support.
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