Meridian Nominated for PE Firm of the Year

Following on from last year’s success, Meridian have seen another year of market leading activity in the Solent region. Meridian hold 12 minority equity stakes in a variety of businesses, 10 of which are based in the Solent Region. The majority of these include active NED roles. The busy period has seen Meridian complete 2 high profile exits, 2 new investments and 1 follow-on investment.

As founder investors in loveholidays and the largest shareholder outside the management team, the sale to Livingbridge Private Equity was their largest transaction ever at £190m and hit national headlines. Meridian also realised their substantial shareholding in Fareham based national franchisor Dream Doors, which sold for £22m to a portfolio company of US based Harvest Private Equity.

The Meridian team have once again demonstrated that they are the most prominent PE firm in the Solent region. In the last 9 years, they have invested in more Solent businesses than any other firm, with a focus on helping owner managed businesses flourish.

Of these activities, the majority have included Solent based businesses and involved multiple firms and individuals from the local professional community. These include, among others; Trethowans, Moore Blatch, Shoosmiths, PwC, Womble Bond Dickinson, Fiander Tovell, DSA, Barclays and NatWest.

Amongst the maturing portfolio there have been truly outstanding performances from:

loveholidays - From start-up investment to 8th largest travel company in the UK, Meridian realised their equity stake in 2018, realising a 20x return on investment.

Blis Media - Global tech media player who were listed in The Sunday Times Fast Track 100 and won ‘National Venture Backed Management Team of the Year’ at the BVCA Awards in 2017, having shown outstanding growth since the company’s debut in 2015.

Cinos – A global AV System Integration Specialist who were listed in The Sunday Times Fast Track 100 in 2018, based in Camberley.

Diametric Technical - Swanmore and IoW based specialist design and manufacturing firm Diametric won SME of the year at the 2018 Solent Business Awards. This year, Meridian supported Diametric in building a 2nd tier management team to enable Steve Watts, Plant Director, to retire.

Meridian also retains minority investments in a number of the region’s flagship businesses, including:

Zenergi – Chilworth based energy broker which sold to August Private Equity in 2017 after a five-year hold period that saw profits rise from c. £700k to in excess of £2.5m.

23.5° Degrees - Backed by Connection Capital, the Southampton-based Starbucks franchisee opened 20 sites during 2018, with plans to open a further 23 in 2019. The CEO of 23.5 Degrees, Mark Hepburn, won ‘CEO of the Year’ at the Solent Business Awards in 2018.

The Meridian team continue to be active investors in the South and are committed to promoting the region as a centre of excellence with the support of the Solent professional community.