Grovepoint Capital

Last updated
Grovepoint Capital
IndustryPrivate equity
Founded2010
Founder Leon Blitz
Bradley Fried
Headquarters London, NW1
United Kingdom
Website grovepoint.co.uk

Grovepoint Capital is a private equity firm headquartered in London, United Kingdom. [1] It has additional offices in Israel. [1] It was co-founded by Leon Blitz and Bradley Fried in 2010. [1] [2] [3]

In 2013, it acquired a majority stake in Algatechnologies, an Israeli biotech start-up, at a value of $50 million. [4] [5] In 2014 it acquired a majority stake in the sports nutrition company Grenade at a valuation of £35 million; in 2017 Lion Capital acquired a majority stake in the business from Grovepoint valued at £72 million. [6] [7] In 2015 it bought Payzone UK from Duke Street. [8]

The firm has provided credit including a €25 million debt package to German retailer NKD and a £19 million funding line to the British caravan holiday company Pure Leisure Group. [9] In 2018 the credit arm of the business was renamed from Grovepoint Credit to Bantry Bay Capital. [10]

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References

  1. 1 2 3 "Company Overview of Grovepoint Capital LLP". Bloomberg Business. Retrieved October 16, 2015.
  2. Denham, Annabelle (November 18, 2013). "Startup springboks who let the idea come to them". City A.M. Retrieved October 16, 2015.
  3. Bar-Eli, Avi (February 10, 2013). "U.K. Investment Firm Snaps Up Israeli Start-up Algatechnologies: Grovepoint Capital is paying an estimated $15 million to $20 million for the company, which fights the effects of aging". Haaretz. Retrieved October 16, 2015.
  4. "Grovepoint buys control of Algatechnologies at $50m company value - Globes". en.globes.co.il. 2013-02-10. Retrieved 2023-09-13.
  5. Favas, Matthieu (2013-09-21). "Grovepoint invests in Israeli microalgae". Private Equity International. Retrieved 2023-09-13.
  6. Devlin2017-03-06T12:00:00+00:00, Ed. "Grenade snapped up by Lion Capital in £72m deal". The Grocer. Retrieved 2023-09-13.
  7. foodmanufacture.co.uk (2014-02-26). "Multi-million pound sale of sports nutrition firm Grenade". foodmanufacture.co.uk. Retrieved 2023-09-13.
  8. Pritchard, Becky. "Duke Street Sells Payzone U.K." www.penews.com. Retrieved 2023-10-02.
  9. Javed, Ayesha. "Grovepoint Inks Second Credit Deal". www.penews.com. Retrieved 2023-10-22.
  10. Iris (2018-04-25). "Grovepoint Credit rebrands as Bantry Bay Capital". Business Money. Retrieved 2023-10-22.