Hotbed, a UK private investor syndicate, has invested £3.3m to back the management buyout of Avocet Hardware. Avocet is a supplier of screws, nails, fixings and general ironmongery products to the UK’s biggest DIY retailers, including B&Q, Focus and Wickes. Hotbed owns a 40% stake in the newco. The deal was supported by banking facilities and working capital provided by Landsbanki Commercial Finance.
Deal is Main Capital's third acquisition in the Dutch financial administrative software space
Aliter acquired Bolt Learning in May 2019 and concurrently provided financing to acquire Mercurytide
Firm is also launching two more vehicles: Ver Capital Short Term Fund and Ver Capital Partners VIII
LGPS Central also announces its co-investment sleeve is performing ahead of targets