Winning Pitch, the rapidly growing national coaching and business support specialist, headquartered in the North West, has secured a £2.5m investment from two funds managed by Enterprise Ventures
The deal consists of a £1.5m investment by the Enterprise Ventures Growth Fund, and a £1m investment from The North West Fund for Mezzanine.
The investments will enable Winning Pitch to further expand its team and develop a new Skills for Growth Division.
Founded in 2005 by John Leach, Winning Pitch is based in Salford and now has additional offices in Liverpool, Leeds, Gateshead and Cardiff. The company delivers coaching and business growth support through a team of direct employees and a nationwide network of over 200 experienced business coaches.
In addition to its private clients, Winning Pitch has secured a number of public sector business support contracts in England and Wales. It is a lead partner in delivering GrowthAccelerator, the Government’s flagship programme to encourage business growth. Winning Pitch also manages the Government’s new Growth Vouchers scheme in the North West.
Winning Pitch has recently created a new Skills for Growth division to address the UK skills gap in high performance selling, an area of increasing concern for the UK Government. Winning Pitch has recently secured its first training contract from Greater Manchester Chamber of Commerce to establish the Winning Sales Academy.
Jim Keane, Winning Pitch Managing Director, said: “We are delighted with this investment as it secures the platform and resources to sustain our growth objectives, develop new business and individual growth products and build global recognition of the WP brand.”
Wayne Thomas and Stewart McCombe negotiated the deal on behalf of the Funds. Wayne Thomas said: “Winning Pitch has established a reputation for delivering high quality business growth services to ambitious entrepreneurs. The company has the opportunity to step up its existing activities and to expand into an important new area. The lack of skills training is a key challenge for the UK economy and will provide a strong growth area for the business.”
It is the second deal by The North West Fund for Mezzanine, which is part of the £155m North West Fund, and funded by the European Regional Development Fund and the European Investment Bank.
Stewart McCombe, Investment Director with The North West Fund for Mezzanine, added: “The investment from The North West Fund for Mezzanine will allow Winning Pitch to expand its North West team and invest in new facilities, including training academies in the region. We look forward to working with the management team as the company continues to strengthen its presence and achieve its growth aspirations.”
Ward Hadaway provided legal advice to the Funds. Turner Parkinson advised the management team. Frazer Hall provided corporate finance advice to Winning Pitch. CLB provided tax advice and Deloitte advised on valuations. Financial due diligence for the Funds was carried out by Mazars and management due diligence by Korn Ferry.