Canadian private equity fund '˜to target Yorkshire firms'

Ardenton Capital has opened a UK office in Manchester and said its long-term focus it has no intention to divest the businesses it acquires.

Ardenton was founded in 2010 and is targeting to invest £100 million in 2017 and £500 million over the next five years globally. Headquartered in Vancouver, Canada, Ardenton also has offices in Toronto, Edmonton and now Manchester, UK. The firm will also be opening offices in Dallas and Philadelphia in the first quarter of this year.

In the UK, Ardenton will invest in businesses with an EBITDA of £2 million - £10 million and claims to be already in discussion with firms in the region.

The business will be spearheaded by two M&A professionals. Michael Bradbury who joins from BDO UK and Iain Marlow who was previously at Deloitte UK.

Mr Marlow, originally from Doncaster and now lives with his family in Huddersfield, said: “I was especially excited when I was approached to help head up the Ardenton team in the UK because I know first hand how many great businesses and business owners there are, right here in Yorkshire, that could benefit from our investment.

“Private equity funds will usually look to invest in businesses and industries that are either in, or about to embark on a phase of rapid growth. We are sector-neutral and will focus on investing in robust growing businesses supplying products or services that will be as relevant in 20 years’ time as they are today.

“Yorkshire is the perfect place for Ardenton to access UK businesses in the regions with a track record of financial robustness and clear organic growth opportunities that will stand the test of time. We’re already having meetings with business owners in Yorkshire and our deal pipeline looks healthy.”

Ardenton is a long term investor perpetually raising funds from high-net-worth and institutional investors in North America. The business has plans to begin fund raising in the UK later in 2017.