1 minute read - 29th October 2024
n Industries – new industrial group supporting UK SMEs achieves successful fundraise
n Industries has secured funding to begin building a group of best-in-class British industrial companies. Notably, the fundraise was backed by Antheia – the family office of Daniel Ek, the founder of Spotify.
n Industries will acquire majority stakes in outstanding small UK industrial companies. Once a business joins the group, n Industries works with existing management to develop them into even higher quality, faster growing businesses.
Companies in the new group retain significant autonomy and benefit from the expertise of the team in place.
After completing a successful fundraise, n Industries is to build a new group of best-in-class UK small industrial businesses / Picture: Getty/iStock
Jonathan Bates-Kawachi, CEO of n Industries, said: “We back British business. The UK has a wealth of successful small industrial firms we look forward to working with. I am very excited about the new role we can play here: in supporting existing management teams to develop their businesses and helping to accelerate their growth. The fact that our funding round was significantly oversubscribed only underlines our confidence in the strength of the UK industrial sector. Watch this space.”
n Industries leadership includes two successful former FTSE 250 CEOs. Paul Simmons was previously CEO of Hill & Smith, and Sector CEO of Halma’s Infrastructure and Process Safety Sectors. Duncan Penny was CEO of XP Power. Both co-founders Paul and Duncan have a track record of delivering double-digit organic growth for businesses over the long term from their previous roles. Founder and CEO, Jonathan Bates-Kawachi, has a background in investing in industrial businesses, and was previously a Senior Investment Manager at Pictet Asset Management.
