Universal Partners Limited (JSE:UPL)

Pierre Joubert
CEO
Market Cap (AUD): 1.56B
Sector: Financials
Last Trade (AUD): 21.55 +0 (+0%)
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1. About

Universal Partners Limited (JSE:UPL) is a permanent capital investment holding company. We seek investments in high-potential, growth businesses, with a focus on the United Kingdom, and Europe. 20% of the company’s funds may be allocated to other regions.

Universal Partners appointed Argo Investment Managers (Argo) under the leadership of executive directors Pierre Joubert, David Vinokur and Andrew Birrell, as its investment manager. Argo is responsible for sourcing the investment opportunities, executing the transactions, and managing the investments until such time as they are realised. Argo earns an annual management fee for its services, in addition to a carry fee payable only once an investment is realised. A portion of this carry fee is payable in Universal Partners equity, and a portion in cash. The equity portion has a three-year lock in period.

The company is focussed on acquiring and building successful businesses across a broad range of sectors where it can add value. The types of businesses it seeks are typically those that demonstrate an advantage over competitors, such as an enhanced customer experience, a consolidation platform, a lower cost base and technological and innovation leadership (demonstrated by registered and protected IP). The company plays an active role in the businesses it invests in order to contribute to the formulation and monitoring of the business strategy. The company offers permanent capital and target investments where it is able to take a stake of up to 49%, with at least one board seat. As a broad guideline, the company looks for investments that require an initial equity contribution of between £8 million and £20 million.

UPL has completed six investments to date:

Dentex Healthcare Group Limited

Offers a unique clinician-led partnership model, enabling it to roll-out and support a network of dental practices

YASA

Patented a range of electric motors, generators and controllers for hybrid vehicles

SC Lowy Partners

High yield bond and distressed debt trading and investment business

Propelair

Revolutionised the flush toilet

Techstream Group

Global technology recruitment specialists

JSA Services Limited

Provides Limited Company, Umbrella and Payroll services to contractors and temporary workers in the UK

Universal Partners Limited has a primary listing on the Stock Exchange of Mauritius and a secondary listing on the JSE’s Alternative Exchange (South Africa).

2. Business model

3. Strategy

4. Markets

5. Competition

6. History

7. Team

8. Financials

9. Risk