DavyMarkham - News
DavyMarkham management team wins regional BVCA Award

The DavyMarkham management team has been honoured in the British Venture Capital Portfolio Company (BVCA) Team Awards winning the North East region category. The award (Private equity-backed team of the Year - mid market) recognises the exceptional turnaround of the Sheffield based engineering firm led by CEO Kevin Parkin and FD Duncan Hay.

DavyMarkham was acquired by Endless as part of a Management Buyout from T H Global PLC in July 2007, when it was losing £350,000 each month. Endless backed Parkin and Hay in the buy out and provided them with significant capital and strategic support to facilitate the turnaround.

Within three years of the original acquisition the company has profits of over £2 million and has won numerous industry awards for Outstanding Manufacturing and International trade. DavyMarkham has made notable progress into the growing Nuclear sector and has an extremely successful apprenticeship scheme creating much needed manufacturing jobs.

The scale of the turnaround and market recognition led to significant interest in the company from international buyers leading to an eventual sale in February 2010 to the Indian industrial giant IVRCL with turnover exceeding US$1 billion.

Endless Managing Director Chris Clegg commented "I always had confidence in Kevin and Duncan to deliver this challenging turnaround as they are an outstanding team. Not only have they driven the profitability but they have built for the future through the apprenticeship scheme they introduced. This award is great recognition of their achievements and well deserved."

This regional award puts DavyMarkham into the nominees for consideration at the BVCA National Awards, which will be held on 30 September in London.

For further information please contact:

Endless LLP
Lindsey Lamb, +44 (0) 113 210 4000
lindsey.lamb@endlessllp.com

or

DavyMarkham Ltd
Jackie Cook, +44 (0) 114 291 4346
jackie.cook@davymarkham.com

Issued: 15 July 2010