Simon Orange ventured into sports ownership in 2016, when he led a consortium that acquired the Sale … [+] Sharks.
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Simon Orange, the co-owner of Premiership rugby club Sale Sharks, has sold his investment firm in a deal said to be worth more than £1 billion ($1.2 billion).
Private equity firm TDR Capital said Monday it had acquired a majority stake in Corpacq, the investment group founded and chaired by Orange.
The British entrepreneur said, “We have found an investment partner in TDR that aligns with Corpacq’s value creation strategy, shares our long-term view, and is fully supportive of the business as we embark on our next phase of growth.”
After the deal closes, which is expected to be in the first quarter, Orange and his management team will maintain a significant shareholding and continue to run Corpacq.
Based in Altrincham, Corpacq specializes in making investments in small to medium-sized enterprises (SMEs) in the U.K., with a focus on industrial products and services. It currently has a portfolio of 43 companies. The firm generated £697 million in revenue and £119 million of adjusted Ebitda in the financial year ended 2023.
In spite of his success with Corpacq, which he founded back in 2006, Orange is probably better known for his co-ownership of the Sale Sharks, which he acquired in 2016, not to mention his celebrity sibling. His brother is the former Take That singer Jason Orange.
Corpacq had previously sought to go public in New York. In August 2023, the firm unveiled a £1.6 billion plan to merge with a special purpose acquisition company (SPAC) founded by former Citigroup banker Michael Klein. But the plan was dropped a year later because of unfavorable market conditions.
TDR described Corpacq as a “highly successful compounder” of SMEs in the U.K. that has “significant further growth potential.”
“With our investment, Corpacq can continue to provide its owner-friendly business combination strategy, and we look forward to working with Simon and the rest of the Corpacq team to realize this,” said Tom Mitchell, managing partner at TDR.
The deal adds to the 27 companies that TDR has in its portfolio of investments. With more than $15.6 billion in assets under management, the London-based firm has been involved in a string of high-profile acquisitions over the years that were often financed with debt.
TDR’s investments range from grocer Asda to fitness chain David Lloyd Leisure and portable power generator supplier Aggreko.
The firm was founded in 2002 by former bankers Manjit Dale and Stephen Robertson with support from U.S. hedge fund billionaire Paul Tudor Jones. Two years ago, Gary Lindsay and Tom Mitchell took over management of the firm.
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