Panoramic shortlisted for two awards
Panoramic Growth Equity (“Panoramic”), the leading equity investor in fast growing, entrepreneurial companies, has been shortlisted for Growth/Buyout Fund of the Year and Exit of the Year for Solfex Energy Systems, which it sold to Travis Perkins Plc in a landmark transaction for the UK renewables industry in January 2013.
Panoramic Growth Equity has made six investments from its Enterprise Capital Fund I, which held its final close in September 2010 and was oversubscribed at £34 million. Two of these investments have been made this year, including a commitment of £1.8m made in April to archaeological travel operator Andante Travels; and £1.2 million of growth capital provided to digital marketing business, Captify Media, in July 2013.
The sale of Solfex generated an IRR of 62% in just 16 months since Panoramic invested £1.25 million into the business in September 2011. During the lifetime of the investment, Solfex saw its profitability increase substantially and turnover grow from £5 million to £22 million – a cumulative annual growth rate of 179% – and it became one of the largest renewable energy systems integrators in the UK. The company also broadened its product range and service offering and tripled headcount from five to fifteen employees. Solfex was listed as the UK’s 5th fastest growing private company in Britain’s in the 2012 Sunday Times Virgin Fast Track 100 – the second Panoramic backed business to be ranked by Fast Track.
Malcolm Kpedekpo, partner at Panoramic Growth Equity, commented: “The Investor AllStar awards recognise some of the greatest successes of the year for entrepreneurial investment and we are very pleased to be nominated in two categories. 2013 has been a busy year for Panoramic in terms of equity investment, exits and the ongoing support of our portfolio companies; and the outlook is equally positive for 2014.”
Award winners will be announced on 25th September at the eleventh annual Investor AllStars Awards, which celebrate professional excellence in entrepreneurship and the professional investor community.
The Investor AllStars Awards is an annual event organised by GP Bullhound, the technology investment bank, and GrowthBusiness, a Vitesse Media website specialising in providing information for entrepreneurs and leaders of fast-growth enterprises.
“This is a great achievement for Panoramic Growth Equity to be shortlisted for two awards” said Manish Madhvani, Managing Partner at GP Bullhound. “Investors like Panoramic set a high standard and are a great role model for others seeking to push the boundaries in this exciting industry.”