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Who Really Owns Synnovia?
Unraveling the Synnovia SWOT Analysis reveals more than just market positioning; it spotlights the core of its operations: its ownership. Understanding the ownership structure of Synnovia is paramount for anyone looking to assess its future potential, especially given the company's significant presence in the healthcare sector. The company's strategic direction and financial stability are deeply intertwined with the hands that control it.
The 2019 takeover by Camelot Capital Partners fundamentally shifted the Synnovia ownership landscape, making it crucial to examine the current major stakeholders and their influence. This exploration will provide insights into the Synnovia company owner, the Synnovia management, and the Synnovia leadership, shedding light on how these factors affect the company's trajectory and its ability to navigate the complexities of the market. Furthermore, we'll delve into the Synnovia company financial information and other key aspects.
Who Founded Synnovia?
The entity now known as Synnovia Limited was initially established on October 2, 2007, under the name Plastics Capital Trading PLC. This marked the beginning of a journey that would see the company evolve through strategic acquisitions and market adjustments. The company's formation was geared towards acquiring Plastics Capital Trading Limited, setting the stage for its entry into the plastics products market.
While the specific founders and their initial equity distribution aren't publicly detailed, the company's early structure was designed to facilitate growth. Upon its admission to the AIM on December 3, 2007, the management team retained approximately 33% of the share capital. This structure aimed to align the interests of the management with those of other shareholders, fostering a collaborative approach to the company's development.
The early backing of Synnovia included a strong group of institutional and private client investors, which played a crucial role in its initial capitalization. The company's strategy from the outset involved significant acquisition activity to expand its market presence and capabilities.
Initial Public Offering (IPO)
The IPO on the AIM market provided the company with essential capital for its expansion plans. The net cash proceeds from the IPO amounted to £16.2 million, demonstrating early investor confidence.
Early Investors
Octopus Investments was an early supporter of the company. Chris Allner, representing Octopus Investments, served on the board, contributing to the company's early strategic direction.
Acquisition Strategy
The company's strategy included an aggressive acquisition plan to boost its market position. In the year ending March 31, 2008, Synnovia completed four acquisitions to expand its portfolio.
Management Stake
The management team held approximately 33% of the share capital after the AIM admission. This ownership structure was designed to ensure that the management's incentives were aligned with those of the other shareholders.
Use of IPO Funds
The funds raised from the IPO were primarily allocated to debt reduction and supporting the company's acquisition program. This strategic allocation was aimed at strengthening the company's financial position and facilitating growth.
Early Acquisitions
The acquisitions of Cobb Slater Limited, Sabre Plastics Limited, Channel Matrix Limited, and GKT Partnership Limited (including its subsidiary Palagan Limited) were key early moves. These acquisitions were pivotal in expanding Synnovia's market footprint.
The early ownership structure and strategic decisions set the foundation for Synnovia's growth. The initial focus on acquisitions and the alignment of management and shareholder interests were crucial elements in its early success. For a deeper understanding of the company's strategic direction, consider reading about the Growth Strategy of Synnovia.
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How Has Synnovia’s Ownership Changed Over Time?
The evolution of Synnovia's ownership has been marked by a significant transition. Initially a public entity listed on AIM as Plastics Capital PLC, the company later became privately held. A pivotal moment occurred in 2019 when Camelot Capital Partners LLC, an investment management firm, initiated a takeover bid. This led to Camelot, through its subsidiary BPF1 Ltd, acquiring Synnovia for 125 pence per share, effectively taking the company private. Prior to the acquisition, Camelot held a 29.9% stake through Barker Partnership LP.
The acquisition, finalized on November 12, 2019, involved Camelot acquiring the remaining 70.1% stake for £35.6 million. This restructuring transformed Synnovia into a private equity-backed company. This shift in ownership is a key aspect of understanding who owns Synnovia and how the company is managed. The Brief History of Synnovia provides further context.
| Event | Date | Details |
|---|---|---|
| Takeover Offer by Camelot Capital Partners LLC | 2019 | Recommended £48.8 million offer for Synnovia PLC. |
| Acquisition Completion | November 12, 2019 | BPF1 Ltd, a Camelot subsidiary, acquired Synnovia for 125 pence per share. |
| Ownership Structure Change | November 2019 | Synnovia transitioned from a public to a private company. |
As of recent reports, Synnovia Limited has three listed shareholders and one Person with Significant Control (PSC). The ultimate parent entity is Plastics Capital Trading Ltd., with Plastics Capital Ltd. identified as having significant control. The company's financial statements for the year ended March 31, 2024, reflect the board's confidence in improving profitability following a restructuring. Net debt decreased by £3.6 million from £14.6 million at March 31, 2023, to £11.0 million at March 31, 2024, partly due to the replacement of third-party debt with shareholder loans. This financial data provides insights into the company's current standing and future prospects.
Key Takeaways on Synnovia Ownership
Synnovia ownership has shifted from public to private equity-backed. This change was driven by a takeover bid in 2019 by Camelot Capital Partners LLC.
- Camelot Capital Partners LLC acquired Synnovia in 2019.
- Plastics Capital Ltd. has significant control.
- The company is focused on improving profitability.
- Net debt decreased by £3.6 million in the year ended March 31, 2024.
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Who Sits on Synnovia’s Board?
As of the financial statements for the year ended March 31, 2024, the board of directors for Synnovia Limited includes G Clark, F Rahmatallah, W Barker, C Andersson, J Wilkinson, and A Green. Georgina Stephanie Clark serves as a Director and Finance Director. Faisal John Rahmatallah is the Chairman, appointed on October 9, 2007. William Jack Barker is a Director and the founder and CEO of Camelot Capital Partners LLC. Anthony Green, Carl Andersson, and J Wilkinson also serve as directors. Understanding the Synnovia ownership structure is key to grasping its operational dynamics.
The board's composition reflects a mix of financial expertise and strategic leadership, crucial for guiding the company's direction. The presence of the Chairman and the Finance Director, along with the CEO of Camelot Capital Partners, highlights the influence of key stakeholders in the decision-making process. This structure supports the company's strategic goals within the healthcare sector. Analyzing the Synnovia management and Synnovia leadership is essential for investors and stakeholders.
| Director | Title | Notes |
|---|---|---|
| G Clark | Director, Finance Director | |
| F Rahmatallah | Director, Chairman | Appointed October 9, 2007 |
| W Barker | Director | Founder and CEO of Camelot Capital Partners LLC |
| A Green | Director | |
| C Andersson | Director | |
| J Wilkinson | Director |
Given its status as a privately held entity backed by private equity, the voting power within Synnovia is primarily concentrated with Camelot Capital Partners and associated entities. The acquisition by Camelot Capital Partners, which involved gaining control through a majority stake, indicates a consolidated voting structure under their influence. While specific details on voting rights, such as dual-class shares, are not publicly available, the ownership structure reflects a unified strategic direction under the current ownership. For more insights, you can explore the Competitors Landscape of Synnovia.
Understanding Synnovia's Governance
The board of directors plays a crucial role in guiding Synnovia's strategic direction. The leadership team, including the Chairman and Finance Director, steers the company's financial and operational strategies. The influence of Camelot Capital Partners significantly shapes the company's governance and strategic decisions.
- The board includes key figures from Camelot Capital Partners.
- Voting power is concentrated with Camelot Capital Partners.
- The company's strategic direction is unified under the current ownership.
- The board's composition supports the company's strategic goals within the healthcare sector.
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What Recent Changes Have Shaped Synnovia’s Ownership Landscape?
In the past few years, the ownership of Synnovia has remained with Camelot Capital Partners LLC, which acquired a 70.1% stake in November 2019. This shift to private ownership has allowed for a long-term strategic approach. This contrasts with the challenges of public markets that the previous independent directors faced.
The company experienced financial adjustments, including a decrease in sales volume between October 2022 and August 2023, attributed to economic conditions. In response, Synnovia underwent restructuring in FY2024 (ending March 31, 2024). Despite a 15.5% decrease in turnover, adjusted EBITDA increased. Net debt also decreased by £3.6 million in FY2024.
| Key Financial Data (FY2024) | Value | Change from FY2023 |
|---|---|---|
| Turnover | £75.6 million | -15.5% |
| Adjusted EBITDA | £2.26 million | Increase |
| Net Debt | £11.0 million | -£3.6 million |
Leadership changes included the appointment of C Andersson as a director in February 2024. The sale of assets by a subsidiary and the achievement of carbon neutral status for FY2024 are notable developments. For more information on the company's business model, you can read Revenue Streams & Business Model of Synnovia.
Synnovia Ownership Structure
Camelot Capital Partners LLC currently owns Synnovia. The transition to private ownership allowed for a long-term strategic approach. This shift has influenced the company's operational and financial strategies.
Recent Financial Performance
Synnovia experienced a decrease in turnover in FY2024. Despite this, adjusted EBITDA increased, and net debt decreased. The company's restructuring efforts were a key part of adapting to the changing economic conditions.
Leadership and Strategic Moves
There have been changes in the Synnovia leadership team. A subsidiary's asset sale and the achievement of carbon neutrality highlight strategic adjustments. These moves reflect the company's response to market dynamics.
Key Personnel
Faisal Rahmatallah is still noted as the Chairman of Synnovia. William Barker is the founder and CEO of Camelot Capital Partners LLC. C Andersson was appointed as a director on February 19, 2024.
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