Sagitta becomes Bowmark Private Equity

The lower mid-market UK private equity firm has changed its name following a management buyout from the Sagitta Group.

Sagitta Private Equity, the London-based private equity firm, has announced that it is changing its name to Bowmark Private Equity.
 
The firm was established as an independent business following a management buyout from Sagitta Asset Management last year. The renaming marks the last stage in the development of the firm’s independent identity. Its investment strategy of investing between £5 million and £15 million in UK companies with an enterprise value of between £10 million and £15 million remains unchanged.
 
Managing director Charles Ind, who established the private equity business at Sagitta in 1997, explained in a statement that the name, taken from an 'aiming device used in archery', was chosen because 'it symbolises the precision and selectivity we seek to bring to investing'.
 
Bowmark supports management teams undertaking buyouts, buy-ins, roll-outs, build-ups and expansion financing in the business services, leisure, healthcare, media and IT sectors. To date it has made investments in more than 60 businesses, including a £6 million investment for a minority stake in The Regard Partnership, a residential care provider for people with a learning disability, last July; and a £6 million investment in environmental services company Casella Group in 2002.
 
It is currently investing its third fund, now renamed Bowmark Capital Partners III, which closed last year at a cap of £105 million.