BlueGem acquires Enotria
2 July, 2012
Private equity fund BlueGem Capital Partners has become the majority shareholder in wine distributor Enotria. ISIS Equity Partners has sold its stake in the company.
Terms of the deal have not been disclosed, but the deal gives BlueGem an 88.2% stake, with senior management continuing to hold other shares. Staff will remain in place, led by chief executive Alison Levett, while Tim How, previously non-executive director, will now become its chairman.
BlueGem is a fund with interest in mid-market companies around UK, including London department store Liberty. Levett said its backing would help Enotria to grow by tapping into its expertise and investing in infrastructure. “I am thrilled to have secured private equity backing from BlueGem as it demonstrates confidence in both our track record and for our management’s plans for the future. It enables us to remain as a standalone company and continue on our journey to be the best in the industry. It is an additional plus to have such an experienced industry leader as Tim How as our chairman.”
BlueGem managing partner Marco Capello said: “We are delighted to invest in Enotria. BlueGem will always back growing businesses and impressive people. In Enotria we have found a best-in-class distributor with very strong management and a compelling track record of helping its suppliers and its customers to achieve quality and profitability in their wine business. We look forward to supporting the company in its continued success.”