Current Investments

Exited Investments

Responsible Investing



In September 2007, Bregal committed to a series of investments in Aurigen Re Capital Ltd, a life reinsurance start-up business, for a 19.8% equity share. Aurigen offers life reinsurance capacity to the Canadian market, and is already doing business with many of the larger life insurance companies in Canada. The company is managed by a highly experienced team with a proven track record of developing life reinsurance business in Canada and the USA. Alan Ryder, formerly head of GE's Canadian life reinsurance business, is CEO of Aurigen. Bregal has invested alongside a small group of well-known investors.

Contact person: Philipp Struth


In February 2008, partners of Bregal Capital LLP acquired an indirect majority holding in Bluestep Capital Holdings Ltd. Bluestep Capital Holdings Ltd owns the largest specialist mortgage originator in Sweden which originates mortgage products for borrowers who self-certify their income, have adverse credit histories or for other reasons have difficulties accessing the mainstream mortgage market. Bluestep originates its products predominantly through a direct-to-borrower channel. The company also offers deposit products for retail customers. Bluestep is led by a management team with extensive experience in consumer finance and wholesale funding.

Contact person: Patrik Johnson


In October 2004, Bregal established Cognita with the objective of creating the leading independent schools business initially in the UK then internationally. Cognita's vision is to build a portfolio of top quality schools with an absolute commitment to teaching excellence. The company is led by an experienced management team and chaired by Chris Woodhead, the former UK Chief Inspector of Schools. Bregal developed Cognita's strategy with Chris and the management team for more than a year prior to the Company's initial acquisitions. Having become by far the leading independent schools business in the UK, Cognita now also has a leading presence in Singapore, Vietnam, Thailand and Spain. Cognita is actively seeking further acquisition opportunities.

Contact person: Edmund Lazarus


Founded in 1971 Danwood has matured from a traditional copier and printer business into one of the leading document solutions providers in the UK and Ireland with turnover of £180 million in the FY ending September 2013, offering customers a one stop solution to their print, fax and copy requirements.  Employing over 1,400 staff, Danwood has developed close relationships with the leading original equipment suppliers and is able to provide customers with the optimal solution depending on their requirements, whether they are in the public sector, large corporates or SMEs.

Contact person: Edmund Lazarus


In August 2006, the Bregal Funds acquired Greythorn Holdings Ltd, a specialist IT recruitment company, as the initial acquisition of a build-up strategy in the recruitment sector. The group is now re-branded as FiveTen group, with the acquired individual brands being retained for trading purposes. The group now comprises Greythorn, an IT recruitment specialist; W H Recruitment, a financial and banking recruitment firm; Marks Sattin, an accountancy and finance recruitment firm; Laurence Simons International, a legal recruitment firm; EMR, a marketing and HR recruitment firm; and Antal International Russia, a Moscow-based generalist professional recruitment firm serving Russia and the CIS. The group's brands are gradually being extended into the expanding global network of offices - the FiveTen group now has offices in 19 cities across 12 countries.

Contact person: Oliver Morali

LR Health and Beauty Systems

In March 2013, Bregal acquired joint control of LR Health & Beauty Systems ("LR"). LR, with headquarters in Ahlen in North Rhine-Westphalia, is a direct-selling company with a focus on nutritional supplements, cosmetics, jewellery and accessories. The company is the leader in the German direct selling market for health and beauty products, is present in 28 countries and continues to expand internationally. LR has c. 1,000 employees and distributes its products via approximately 300,000 independent sales consultants.


Contact person: Florian Schick

Morrison Utility Services

Morrison Utility Services ("Morrison US"), which is headquartered in Stevenage, Hertfordshire, is one of the UK and Ireland's leading service providers within the electricity, gas, telecommunication and water sectors. Operating under long-term contracts, it is a key provider of outsourced services to a broad range of utility companies. The services provided include the installation, maintenance and replacement of piping and cabling networks throughout the UK and Ireland. Morrison US supplies the labour and equipment hire required, manages the relationship with the local authorities and increasingly is working in partnership with its clients to assist them in the long-term planning of their infrastructure management.

Contact person: Edmund Lazarus


In September 2011, Bregal acquired Novem Car Interior Design GmbH ("Novem"). Novem is a global supplier of high-quality decorative components and functional elements for car interiors. The company, with headquarters in Vorbach/Upper Palatinate in Bavaria, is the world's leading supplier for fine wood decorative components supplying renowned automotive manufacturers like Audi, BMW, Daimler, VW, Volvo, Range Rover, Maserati, Lincoln and Cadillac. As well as processing fine woods, Novem is also leading in the area of innovative plastic and metal engineering for car interiors. Novem employs approximately 3,900 staff at nine locations in Germany, China, Czech Republic, Slovenia, Honduras, the United States and Italy.

Contact person: Florian Schick


In October 2013, Bregal completed the acquisition of proALPHA Business Solutions GmbH (“proALPHA”). proALPHA is a leading independent supplier of Enterprise Resource Planning software solutions to German mid-size companies. In addition to its software, proALPHA also offers implementation services and training. The company, headquartered in Weilerbach, Rhineland-Palatinate, Germany, specialises on solutions for companies in the discrete manufacturing and technical wholesale sectors. proALPHA employs approximately 700 staff at 30 locations in Germany, Austria, Poland, Hungary, France, Switzerland, China and the USA. 

Contact person: Florian Schick

QA Ltd

In June 2007, Bregal completed a growth capital investment in QA. In September 2008, QA successfully completed the acquisition of Xpertise Group plc, one of its principal competitors. In September 2009, QA successfully acquired the Remarc Group, another competitor. Today, QA is the leading independent provider of IT professional and personal development skills training with more than 240 instructors delivering over 1,200 different courses across 26 centers throughout the UK. Through a combination of strong organic growth and strategic acquisitions, QA has significantly grown its market share since 2002. The company currently has more than 5,000 SME and corporate clients, including most of the UK's largest companies and public sector organisations, and is the undisputed leader in the UK IT training market.

Contact person: Edmund Lazarus


In 2010 Bregal sold the asset backed business units of Reconomy to Viridor.  The continuing Reconomy business is the UK’s leading outsourced waste services provider.  The company operates nationwide waste management, compliance and recycling services, delivering enhanced environmental and financial performance for its customers.  

Reconomy has delivered outstanding growth in sales and profitability through key customer relationships in the house building, construction, utilities and FM sectors. Reconomy’s market leading position and strong growth trajectory are set to continue following its successful acquisition of Countrywide Waste Management in early 2015.

Contact person: Edmund Lazarus

Stelrad Radiator Group

In September 2013, Bregal acquired Ideal Stelrad Group (“ISG”). ISG, headquartered in Newcastle (UK), was a boiler and radiator manufacturing company with production facilities across Europe. Bregal separated the boiler and radiator divisions during 2014 and successfully sold the boiler division to Groupe Atlantic in January 2015. Bregal continues to own the radiator business, the Stelrad Radiator Group (“SRG”). SRG is the #2 pan-European radiator manufacturing company with facilities in the UK, the Netherlands and Turkey. It distributes its products under the Stelrad, Henrad and Termo Teknik brands across the UK, Continental and Eastern Europe, Russia and Turkey.

Contact person: Edmund Lazarus


In February 2015, Bregal completed the acquisition of Whittan Group Limited (“Whittan”). Whittan is one of the leading European suppliers of storage solutions and the established market leader in the UK. The company manufactures, sells and distributes three core products: pallet racking, shelving and lockers, to a wide range of customers. It trades under a number of well established brands including: Link51, Permar, Polypal and Moresecure. Headquartered in the UK, Whittan has manufacturing facilities in the UK and Spain and its own sales and distribution operations across Europe, employing more than 600 staff.

Contact person: Edmund Lazarus