high-potential businesses
The investments we make are based on mutual trust and a shared vision for growth.
participation in our investments
Our approach is to take an active shareholding in the businesses we invest in, in order to enable meaningful participation in the formulation and execution of the business strategy. We look for investments that require an equity contribution of between £10 million and £20 million and where we are able to secure a significant minority stake in the business (25% to 49%).
Dentex management
Founded in 2016, Dentex is a private dental consolidation platform with a highly experienced management team.
The company has a unique co-ownership partner model with dentists: up to 20% of the purchase consideration for a practice is settled in Dentex equity, creating alignment through co-ownership whilst retaining clinical freedom for the dentist.
Universal Partners first invested in Dentex in 2017 when the company had only 3 dental practices. It has since partnered with management to grow the business into a respected player in the UK dental market, leading a number of capital raises and assisting with raising significant senior debt to fund the buy and build strategy. As at the end of February 2022, Dentex is comprised of 112 dental practices, with a significant pipeline of additional practices under signed Heads of Terms . Dentex is currently the 4th largest dental corporate in the UK and 2nd largest corporate that focuses on acquiring private practices.
UPL has been instrumental in raising the debt facilities to enable Dentex to rapidly grow and deliver the business plan.
David Vinokur and Justin Rodrigues represent Universal Partners on the Dentex board.
For more information about the company visit www.dentexhealth.co.uk
Credo Wealth (selected individual clients)
Workwell (formerly JSA) is a contractor accountancy and payroll solutions business based in the UK.
Universal Partners acquired a significant minority stake in the business in May 2018 from existing investors. Andrew Goodman, the executive chairman and majority shareholder at the time of the transaction, is a recruitment industry veteran having founded, acquired, listed, and served on the boards of numerous recruitment and Professional Employment Organisation businesses.
Universal Partners has played a pivotal role in progressing the buy and build strategy and has assisted with raising debt facilities to fund the rapid expansion of the business.
In November 2021, Universal Partners committed to a longer-term investment horizon and increased its shareholding to become a majority shareholder in the business
Universal Partners is represented by Pierre Joubert and Justin Rodrigues who sit on the board of Workwell.
For more information about the company visit www.workwellsolutions.com
Management
Xcede Group (formerly Techstream Group) is a global recruitment organisation that delivers technology and energy talent solutions that enable companies to innovate and grow.
After the introduction of Universal Partners as an investment partner in 2020, the group was formed through the merger of Techstream, Xcede and Etonwood, three of the UK’s leading recruitment businesses with a specific focus on technology, engineering, renewable energy, digital, data and automation.
Xcede is headquartered in London and has offices in London, New York, Hamburg, Singapore, Cadiz and Cape Town.
Xcede boasts an excellent management team with a clear strategy to grow the business both locally and internationally.
Universal Partners is represented on the board by Pierre Joubert and Justin Rodrigues.
For more information about the company visit www.xcede.com
Investec Bank
SC Lowy was founded in 2009 by Michel Lowy and Soo Cheon Lee as a global banking and asset management group. It has a proven track record of delivering unique fixed income solutions to its investors and clients.
The asset management division of the company specialises in high yield, distressed, event driven and private structured credit.
SC Lowy owns two commercial banks – Choeun Savings Bank in South Korea (acquired in 2014) and Solution Bank in Italy, formerly known as Credito di Romagna (acquired in 2018).
The business is headquartered in Hong Kong, with a global team of investment professionals also working from offices in Seoul, Milan and London.
Universal Partners and Investec Bank co-led a consortium that invested in the business in December 2017.
Pierre Joubert represents Universal Partners as an observer on the board of SC Lowy.
For more information about the company visit www.sclowy.com
Investec Bank
Sustainable Technology Investors
Propelair is a CleanTech company based in London. It manufactures the Propelair low-flush toilet – the world’s lowest water-flush toilet.
In 2017, the company received a significant round of investment from a consortium which included Investec Bank, Earth Capital Partners and Universal Partners. The growth capital provided helped the company to further develop the product and to accelerate its distribution.
Propelair works with numerous distribution partners and has a solid client base across the UK, South Africa and the Middle East.
For more information about the company visit www.propelair.com
Parkwalk Advisers
Oxford University Innovations
Yasa is a manufacturer of a range of electric motors, generators and controllers with superior performance characteristics – Yasa motors are smaller, lighter, easier to manufacture and deliver superior power and torque. These motors are used in the automotive sector by manufacturers such as Mercedes Benz, Ferrari, Koenigsegg and others. They are also used in the aviation sector, where they are supplied and supported by Yalium, a company spun out of Yasa.
YASA was incorporated in 2009 to commercialise research undertaken at Oxford University by founder and Chief Technology Officer, Dr Tim Woolmer. The initial funding for the business was provided by HNW individuals and EIS investors, led by Parkwalk Advisors.
Universal Partners made its initial investment in Yasa in August 2017 and went on to invest a total of £14.3m. In line with its commitment to being an active and value adding partner, Universal Partners was a very supportive lead investor. In addition to providing capital to help Yasa grow, we were also actively involved in formulating a successful strategy for the company.
In August 2021, Yasa was sold to Mercedes Benz AG, who had identified the company as a key pillar in their electrification strategy. Concurrent with the sale, Universal Partners also sold its shares in Yalium to a consortium of investors.
Universal Partners received total proceeds of £42.8m from these sales, which translated into a gross return of 3 times money invested, a gross IRR of 33% and a net IRR of 28%, after taking account of fees and carry payable to Argo.
For more information about the company visit www.yasa.com
successful businesses
Our strong global investor network enables us to successfully invest in high-growth businesses, and our ethos means that we only seek to partner with organisations where we believe we can add strategic value.
with Deloitte.
Pierre holds a Bachelor of Commerce degree from the University of Cape Town, and is a Chartered Accountant (South Africa).
countries. He represents Universal Partners and Global Capital on the board of the underlying companies both locally and offshore, and assists with the strategic management of the investments. After completing his articles at PricewaterhouseCoopers, David was certified as a chartered accountant and became a member of South African Institute of Chartered Accountants. Following this David joined Global Capital in February 2004; his portfolio consists of a diverse range of private companies in a variety of industries.
David holds a Bachelor of Commerce degree and Bachelor of Accounting degree from the University of the Witwatersrand (South Africa), and is a Chartered Accountant (South Africa).
Since joining Universal Partners in London, Justin has been actively involved in the origination, execution and management of investments. He sits on the Board of Directors of Dentex and TechStream and takes an active role in the capital raising activities and the strategic direction of Universal Partners’ investments.
Justin holds a Bachelor of Commerce degree from Rhodes University (South Africa), and is a Chartered Accountant (South Africa).
Doron completed his articles at PKF (South Africa) and, prior to joining Universal Partners, worked for eight years in the finance teams of both listed and private companies in the telecommunications and finance industries.
Doron is a Chartered Accountant. He holds a Bachelor of Accounting from the University of the Witwatersrand, South Africa.
of these companies. Previously, Larry sat on the boards of Softline Ltd, JCI Ltd and Abacus Technologies Holdings Ltd. Further he has been a former chairman on a number of non-listed company boards both in South Africa and abroad including Stenham Ltd (UK) and Prefsure Life Ltd (Aus). Larry is the current executive chairman of Global Capital (Pty) Ltd and non-executive chairman of Blue Label Telecoms Ltd, Dis-Chem Pharmacies Ltd, National Airways Corporation (Pty) Ltd, Morecorp Group (Pty) Ltd, Melrose Motor Investments (Pty) Ltd and SellDirect Marketing (Pty) Ltd. He also serves as deputy chairman of Cell C Ltd.
Larry is a life member of the Young Presidents Organisation, Lloyds of London (since 1983) and is an honorary colonel in the South African Air Force.
member of the following companies: Sea-Invest Corporation, Luxemburg (the largest European
stevedoring group in bulk and fruit which is also active in Africa); BMT International NV (gears, transmissions, aeronautics, moulds for the glass industry); Greenyard Foods NV (world leader in distribution of fresh, frozen and canned food, listed on Euronext); Baltisse and Straco, both important Belgian family controlled groups in private equity and real estate.
Marc is a graduate of the VLEKHO Business School, Brussels.
of Companies. Neil remains on the board of RMB Corvest as a non-executive director. Neil was a member of the RMB investment committee for a number of years up until his retirement from RMB Corvest.
Neil holds a Bachelor of Commerce and CAIB (SA), Dip SAIM from Port Elizabeth Technikon, South Africa.
Director
Director
was later sold to Super Group, the successful MBO of Premier Foods which was sold to Brait, the Manline Group which was merged into Barloworld Logistics and several other Private Equity interests spanning Property, Aviation (National Airways Corporation), Dealerships (Melrose Motor Investments) and Security (SSG Holdings), and was the CEO of the Richmark Group from 2012-2018. Andrew cofounded DNI in 2006 where he currently serves as the CEO.
Andrew holds a Bachelor of Commerce degree from the University of Cape Town, South Africa.
Previously, between 2002 and 2014, he was Chief Executive then Chair at Independent Clinical Services which is Europe’s leading healthcare staffing and professional services company. Gary led ICS through five phases of Private Equity ownership. He is also a Board advisor at FINE+RARE, Europe’s largest fine wine brokers. In his early career Gary was Group Managing Director at RAC PLC serving on the PLC Executive Board and European Marketing Director at GE Capital. Gary began his commercial career at American Express.
Director
Director
He is an entrepreneur and property investor, being a founder and shareholder in many businesses and property companies. After qualifying, Daniel worked for Brait Ltd, a private equity fund listed on the Johannesburg Stock Exchange (“JSE”), where he was responsible for sourcing deals. Daniel was a founder and Executive Director of Annuity Properties, which listed on the JSE in 2012. The company was subsequently sold to a larger, listed REIT (Redefine Properties) in 2014.
Daniel is currently the CEO of Glen Anil Development Corporation, a property and private equity investment vehicle, with interests in South Africa, the United Kingdom and Europe.
Director
Director
With many years of practical experience, Francoise is a seasoned professional and has a deep understanding of the intricacies of the Global Business industry. She has assisted a number of multinationals, fund managers and high net worth individuals in the structuring and the implementation of their affairs in Mauritius. Françoise previously held senior positions at the representative of Arthur Andersen in Mauritius as well as in the International Banking Division
of Barclays Bank Plc. Françoise is a member of both the International Fiscal Association (IFA) and the Society of Trust and Estate Practitioners (STEP) and serves as a director on the board of several Global Business companies including Mainland Real Estate Limited.
Françoise holds a DEA in banking and finance and she holds a Master Degree in Econometrics from the University of Paris 1 Sorbonne, France. She also holds a Magistere d’Economie from the University of Paris 1 Sorbonne in conjunction with ULM et L’Ecole des Hautes Etudes en Sciences Sociales of Paris, France.
Director
Director
companies and a number of funds established in Mauritius. He graduated from the University of Mauritius with a B.Sc. (Hons) in Accounting with Information Systems and holds a MBA in Leadership and Innovation. He is also a fellow member of the Association Of Chartered Certified Accountants UK (FCCA), a member of the Mauritius Institute of Professional Accountants (MIPA) and Member of the
Mauritius Institute of Directors (MiOD).
pierrej@universalpartners.mu
davidv@universalpartners.mu
justinr@universalpartners.mu
+230 260 0451
Business address Registered address
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Office Block C Alexander House
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