Maven Capital Partners, one of the UK’s leading SME finance providers, has strengthened its team with the appointment of James Rosthorn and Dean Cox as Investment Managers to increase the level of support to local companies across all stages of the investment process as well as for ongoing business support.
Chartered Accountant, James Rosthorn, joins Maven as an Investment Manager based in the Manchester and Lancashire offices and will be responsible for new investments across the North of England. Prior to joining Maven, James was a Corporate Finance Advisor at Top 10 Accounting firm, Mazars, where he advised owner managed businesses on sales, acquisitions, fundraising and MBOs.
Qualified Solicitor and Corporate Finance Masters, Dean Cox, is Maven’s second appointment to the investment team this year, bringing a range of private equity, M&A and legal expertise advising management teams, institutional investors and large corporates. Prior to joining Maven, Dean spent three years working with the senior management team at Radius Payment Solutions and previously worked in the Corporate Finance team at Addleshaw Goddard LLP.
Appointed by the British Business Bank in February 2017, Maven manages £57.5 million worth of equity finance for the Northern Powerhouse Investment Fund (NPIF) a £400m fund for SMEs in the North of England. Working with the Local Enterprise Partnerships (LEPs) and Combined Authorities in the North West, Maven has invested over £25 million into 42 companies since the fund launched.
NPIF was launched as a partnership between the British Business Bank, 10 Northern England Local Enterprise Partnerships, the European Investment Bank and the European Regional Development Fund.
NPIF has completed over 600 investments, totalling more than £130 million with an additional £116 million in private sector finance across the Northern Powerhouse since its launch in 2017.
Ryan Bevington, Investment Director at Maven, said: “We are delighted to welcome James and Dean to the growing team which will strengthen Maven’s presence and will help us continue to identify high-growth, innovative businesses as potential investments. Our local investment team works closely with the businesses we support to provide flexible funding to suit a wide range of scenarios. Achieving the £25 million milestone earlier this year demonstrates the need for this type of equity finance, and we look forward to working with more innovative, fast growing small businesses to help them achieve their growth plans.”
Grant Peggie, Director at British Business Bank, said: “The team at Maven has made impressive progress since the launch of NPIF. We are pleased to see a broad range of investee businesses, which are undoubtedly having a positive impact on the northern economy. The deals completed to date demonstrate a significant demand for equity finance in the North, and NPIF remains committed to bridging the funding gap between the North and the South of England in order to boost economic prosperity in the region.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
Maven Capital Partners UK LLP is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 495929