NVM Private Equity invests in Customs Connect .
13 September 2016
NVM Private Equity (NVM) has invested £4 million of development capital in Customs Connect and Customs Connect Europe, the award winning, pan-European Customs Consultancy.
Experts in minimising the customs duty paid by importers for their impressive blue chip client base,the funding will be used to support Customs Connect’s expanded service offering in the UK and their expansion plans across mainland Europe. The business is especially well positioned to provide advice on the potential duty implications of BREXIT to importers in the UK and manufacturers and processors who have import operations throughout Europe.
The strong and experienced management team includes the two founders,Neil Sheppardand James O’Neill, both experts in Tariff Classification and the EU’s Duty Suspensions regime. Their commercial approach in a compliance driven sector has enabled them to build a niche service offering that aims to mitigate the cost of import customs duty by working closely with the EU’s customs authorities and within the framework of the new Union Customs Code regulations.
The further appointment of John Barnsley as chairman also brings a wealth of experience. As a former UK Managing Partner at Price Waterhouse, John says “I look forward to working with the Customs Connect team to rapidly expand this exciting and important business.”
Andy Leach, Investment Partner of NVM comments “We are delighted to be supporting Customs Connect in its ambitious plan to broaden and grow its activities across Europe. At a time when, post-Brexit, the topic of trade agreements and related duty considerations are high on the business agenda, Customs Connect is well placed to assist. This funding will allow Neil and James to expanded Customs Connect’s offering across more territories in Europe where businesses are facing similar challenges.”
Convex Capital’s Manchester office provided lead advisory services to the deal, with Shoosmiths LLP (NVM) and Myerson LLP (Customs Connect) providing legal services. Due Diligence Services were provided by RSM Manchester (Financial), Armstrong Transaction Services (Commercial) and The Quinn Partnership (Management).
NOTES TO EDITORS
For further information please contact:
- Natalie Dickinson (NVM: PR & Marketing) – 0118 951 7021 firstname.lastname@example.org
- Andy Leach (NVM: Investment Partner) – 0161 935 8419 email@example.com
- Liam May (NVM: Investment Manager) – 0161 935 8081 firstname.lastname@example.org
Download photos of: Customs Connect – www.nvm.co.uk/PRphotos
NVM Private Equity is independently owned with over 30 years’ experience of investing in unquoted UK businesses. NVM is a generalist investor, managing over £270 million of funds, and is differentiated by having executives living and working in regional business communities throughout the UK. NVM seeks investment opportunities of between £2 million and £12 million in UK businesses which have the right mix of growth potential and market vision. They may be looking to grow organically, acquire another business or secure a management buy-out. www.nvm.co.uk