At Clyde Blowers Capital, we work with companies and talented management teams where we believe our innovative approach and operational experience can add significant value.
CBC Past and Present Investments
Fund I
Our Founder, Chairman & CEO, Jim McColl, bought a 29.9% stake in Clyde Blowers in 1992, then a manufacturer of boiler cleaning equipments. Jim subsequently took Clyde Blowers private in 1999 with 3i and, with the support of the 3 other founding partners of Clyde Blowers, executed a consolidation strategy to become the market leading soot blowing platform globally. The founding partners then led several spin outs and new platform investments at the same time as continuing to manage the traditional boiler cleaning equipment business. These investments were made with co-investors on a deal by deal basis and delivered top quartile performing returns for our investment partners.
Our track record demonstrates the team’s ability to create value for our investment partners
Fund II
Fund II was established in 2008, impressively closing the fund in the midst of the 2008 financial crisis, and was driven by an earlier investment the founding partners completed in 2007 when buying Weir Pumps from the Weir Group (subsequently rebranded Clyde Pumps). The team identified Union Pumps in the US as a clear strategic fit with Clyde Pumps and set about trying to unlock the deal from then owner, US Conglomerate, Textron. After further discussions Clyde Blowers subsequently purchased the entire Fluid & Power Division from Textron in November 2008 and created six separate portfolio companies: Clyde Union (merger of Clyde Pumps & Union Pumps), David Brown Gear Systems, Hydreco (formerly David Brown Hydraulics), Maag Pump Systems & the Clyde Bergemann Power Group (where CBC retained a small investment in the original boiler cleaning business).
In addition to these assets in Fund II, Clyde Blowers Limited provided leadership and management support to InterBulk Group which was traded on the AIM market.
Clyde Blowers Capital has successfully exited all six platform investments in Fund II.
Fund III
Following the return of all invested capital in Fund II by 2011, amidst a challenging economic backdrop, Clyde Blowers Capital successfully closed Fund III on 27 January 2012.
Clyde Blowers Capital invested in 7 platform investments through Fund III; Moventas, David Brown Santasalo, Cone Drive, Parson Peebles Group, Allrig, Keto Pumps and Ferguson. Clyde Blowers Capital successfully exited Cone Drive in 2018 delivering a top quartile performing return to investors.
As at 22 January 2020, it was mutually agreed by all stakeholders that Clyde Blowers Capital Fund III LP will separate from its General Partner and Manager, Clyde Blowers Capital GP III LP and Clyde Blowers Capital IM LLP. The Fund’s new AIFM will be Mirabella Financial Services LLP. Clyde Blowers Capital remain investors in the fund.
Alba Bank
The team at Clyde Blowers Capital has been playing a prominent role in helping to launch Alba Bank, which will be a challenger bank focused on lending to SMEs across the UK regions. The bank will provide loans to SMEs in the UK through a modern digital platform and placing an emphasis on the core skills of relationship banking.
CBC successfully led the seed funding to establish Alba in April 2018, while the other members of the founding team worked on a business plan to create a purpose-built SME-focused bank, to be Headquartered in Scotland and serving the UK regions.
CBC has continued to support the aspiring bank through its application process and has been hugely impressed by the progress made to date. In December 2019, Alba announced they had formally submitted their application for a banking license to the Regulator, representing an important milestone in the journey of becoming a fully licensed bank.
CBC Case Studies
Clyde Blowers Capital has over 30 years of experience in owning, operating and managing industrial companies.