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
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
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
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
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
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
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