Bridges Ventures exits Whelan Refining

Bridges Ventures' Sustainable Growth Fund I realised a 33% IRR on the exit. This is the third exit for the vehicle in the last nine months. In May 2012, Bridges Ventures secured the sale of the Hoxton Hotel, followed by the exit of Pure Washrooms a few weeks later.

Bridges led the investment in Whelan in 2006, alongside Catapult Venture Managers, to fund the refurbishment and recommissioning of a redundant oil refinery in Stoke-on-Trent.

Launched in 2002, the Bridges Sustainable Growth funds provide growth capital to SMEs.

Company
Whelan Oil Refining is based in Burslem, Stoke-on-Trent. It re-refines 50,000 tonnes of used oils per annum to produce a group I base oil for sale to the lubricant manufacturing industry.

People
Philip Newborough is a managing partner at Bridges. John Whelan is the managing director of Whelan Refining.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Exits
• Now researching
• Support services
• United Kingdom
• Bridges Ventures