WayPoint supports recent Dunedin investments in Premier Hytemp and Trustmarque

WayPoint partner Andy Pearson has worked on two recently completed investments by Dunedin LLP (“Dunedin”), the UK mid-market private equity house

Premier Hytemp

In December 2012 Dunedin backed the management buyout of Premier Hytemp, a global leader in the manufacture and supply chain management of quality engineered alloy components for the offshore and onshore oil and gas industry. Premier Hytemp was acquired from Murray International Holdings Ltd in a £34.5 million transaction.

Premier Hytemp turns over in excess of £42 million and supplies complex, high integrity machined parts on short lead times to the offshore and onshore oil and gas sector globally.  The company has over 200 employees worldwide and has a very strong heritage of engineering excellence, working with nickel and low alloy steel used in critical components required for drilling and production purposes. It also operates Singapore’s largest steel heat treatment facility, which is currently being expanded.

Trustmarque

In June 2013 Dunedin backed the £43 million management buyout of York headquartered Trustmarque Solutions (“Trustmarque”), a market leading provider of technology services and solutions to private and public sector organisations across the UK. The business was acquired from LDC in a deal that saw Dunedin employ its trademark DebtBridgeTM solution, which ensures deliverability and certainty of debt funding.

Trustmarque has been in operation for over 25 years and manages customers’ computer software and licensing from a wide range of developers including Microsoft, VMware, and McAfee. Its professional and consultative services enable organisations to optimise their IT resource, improve efficiencies and reduce costs. The business recorded revenues of over £130 million for the year ended 31 August 2012. Dunedin’s investment will enable Trustmarque to expand its service offering and correspondingly, its customer base.

The business employs 180 people at three sites in York (HQ), Bracknell and Edinburgh. It currently serves over 1,200 clients including RBS, Lloyds Banking Group, Sainsbury’s, the NHS, Ministry of Defence and a broad spectrum of local authorities and central government agencies. Trustmarque is the leading supplier of software and consulting services to the UK Government and was the first reseller of Microsoft’s products to achieve Gold licensing status, a title that is reserved for their most trusted and successful partners.

WayPoint worked alongside other elements of Dunedin’s due diligence process to review the financial operations of each business. WayPoint has worked for Dunedin on a number of completed transactions and a range of other projects for portfolio companies in the last two years

Dunedin partner Dougal Bennett commented “Dunedin has worked very successfully with WayPoint, and Andy in particular, on a number of assignments.  These have been both pre- and post-investment and Andy always provides useful insights into the companies or issues we are interested in. He focusses upon what is important from a risk or value creation point of view and his work is always concise and good value for money. He is a seasoned and experienced operator.”

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