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NVM appoints David Rolfe to lead investments in the South of England

NVM exits CloserStill.

“It’s been a brilliant journey and huge fun
so far with our friends at NVM and with a
team of people here at CloserStill that can
move mountains.”

Andy Center, CEO of CloserStill

NVM is proud to announce that it has partially sold CloserStill, a business-to-business exhibition and events organiser, to Phoenix Private Equity for c£25m. The sale has generated excellent returns of 3.2x money multiple and an IRR of 38% on NVM’s original investment of £4m. We will retain a 10% equity stake in the business.

CloserStill has built the business from £0m to a target £3m EBITDA since inception. Growth has been substantial over the last three years, both in its organic business and acquired brands.
The company has a portfolio of ten major exhibitions in the UK, principally in the healthcare and technology sectors. All exhibitions have achieved strong growth, with an increase in the number of exhibitors, visitors and floor space. Half of CloserStill’s portfolio have, or are expected to, generate
a turnover of more than £1m.

We have really enjoyed working with the CloserStill team during the last six years; so much so, we were keen to roll over and be part of the journey in the next phase of the company’s growth, alongside Phoenix.

Peter Hodson
T 0845 272 7014

CloserStill case study

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We seek investment opportunities in UK businesses that have the right mix of flair, growth potential and market vision. They may be looking to grow organically, acquire another business or secure a management buy-out. Typically, we look to invest between £2m and £10m.

NVM Private Equity Limited (‘NVM’) is authorised and regulated by the Financial Conduct Authority.

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