Erbium Capital Partners LP
Private equity group, now dissolved.
Erbium - Structure
- Erbium Capital Partners LP (Jersey), OC.
2018: Notice of Dissolution.
2012: name changed from "Lydian Capital Partners LP".
Lydian Capital Advisors SA, Website.arch
Lydian Capital Partners LP, reg. Jersey
Erbium Capital Partners LP, reg. Jersey
- Erbium Holdings Ltd, OC, EC, reg. Jersey
Wellness Foods Ltd
Wellness Foods, through its subsidiaries, produces and sells foods and drinks. It offers breakfast cereals, fruit snacks, desserts, orange juice and fresh prepared fruit, fresh fruit patisserie, and other juices, as well as fruit peelers, school bars, and fruit flakes. The company offers its products to retail, food service, and food manufacturing customers in the United Kingdom and internationally. Wellness Foods Ltd. was incorporated in 2004 and is based in Chertsey, UK. Website.arch
Wellness Foods provides most of the big supermarkets with own-label prepared fruit, freshly squeezed juice, smoothies and fresh-fruit desserts. This year the Surrey group agreed to sell luxury granola maker Dorset Cereals to Associated British Foods and sell Rowse Honey to Ireland’s Valeo Foods, for undisclosed sums. Founded in 2005, Wellness Foods is majority-owned by the Irish entrepreneurs JP McManus, John Magnier, and Dermot Desmond.ref
Wellness Foods, the company backed by Irish horseracing tycoons JP McManus and John Magnier. Mr McManus and Mr Magnier bought the food company from private equity group Langholm Capital in 2008. The two racehorse owners are also shareholders in pub group Mitchells & Butlers plc.ref,ref
Wellness, backed by Denis Brosnan and his Lydian Capital fund alongside Bank of Ireland Group plc and Allied Irish Banks plc. Well-known racehorse owners John Magnier and JP McManus were understood to be investors in the fund. Wellness was an ambitious acquisition vehicle driven by former Kerry Foods Director Philip O’Connor to build a leading ‘healthy eating’ group of companies at the height of the M&A boom in the mid to late 2000s.
Philip O’Connor moved on and established his own small, but successful, fruit snacking business Yu! Wellness needed a new leader and in came ex-Kerry Foods CEO Michael Griffin to steer the ship through the turbulent recession years. But it was always clear that, with such a lot of debt and AIB reportedly having transferred its shareholding into AIB Joint Ventures, disposals were only a matter of time. https://julianwildblog.wordpress.com/2014/04/09/rowse-honey-stays-in-irish-ownership/
Wellness was an exciting business concept; sadly it is now having to be dismantled to satisfy the banks.
Erbium Capital, a Jersey investment company backed by racing magnates JP McManus and John Magnier, looks set to book a surprise profit from the successful break-up of health food venture Wellness Foods. The disposal brings the total sell-off to over £250m, clearing all the company's debts. It also leaves a likely cash balance of over £100m for the shareholders of a company that five years ago was still struggling under a massive debt burden. Former Kerry Group plc boss Denis Brosnan set up Wellness in 2005 as a vehicle to… https://www.thetimes.co.uk/article/wellness-punters-to-win-handsome-return-rc5zvf59b
Lydian Capital Advisors SA is out of business. It is a private equity firm specialising in buyouts of middle market and mature companies. It seeks to invest in healthcare, consumer products, and leisure sectors in companies based in the UK, France, Germany, Italy, and Spain. The firm prefers to take a majority stake or at least a significant minority stake in its portfolio companies. Lydian Capital Advisors SA was founded in 2003, and is based in Geneva, Switzerland with an additional office in London, UK. https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=29053334
See also Care home boss quits as firm at centre of abuse exposé prepares for criticism, Ethical Consumer, Rich investors with a stake in care home abuse hospital, CH, Private Eye on the Perils of Healthcare Ownership: The Winterbourne View Hospital Scandal, GUILTY BY ASSOCIATION OR JUST GUILTY?, Nursing home czars unaware of their citizens' anguish, Lawrence Graham advised the shareholders in Cygnet 2002 Limited, Winterbourne View- Asset stripped for millions and sold to Danshell Group., [Media hides NHS rip off no mention of Cygnet billion £ ‘treatment’ out of area/no money as always. https://finolamoss.wordpress.com/category/uncategorized/page/11/], Danshell poised to acquire Castlebeck, Sticky for Cygnet
- Mar.2019: Wellness Foods was dissolved.
- Jan.2018: Erbium Capital Partners LP was dissolved.OC
- Dec.2017: Special resolution to be wound up; appointment of a voluntary liquidator.
- Mar.2017: AssistLight Ltd, Orchard House Foods' parent company, was dissolved.CH
- Oct.2016: Stream Foods Ltd was sold to cereal manufacturer Bokomo Foods (UK) Ltd, a subsidiary of South Africa's Pioneer Food Group Ltd.ref,Fruit Bowl Website, Pioneer.uk, Pioneer.za
- Dec.2015: Orchard House Foods Ltd was sold to US firm Hain Daniels Group.ref,link Webpage
- AR-Dec.2014: Grove Fresh Ltd entered proceedings to be dissolved.CH
- Jun.2014: Dorset Cereals Holdings Ltd sold to Associated British Foods's Jordans & Ryvita Company.ref
- Feb.2014: Rowse Honey Ltd was sold to Irish Valeo Foods Ltd.ref
- Dec.2012: Erbium Capital Partners LP: Lydian Capital changed its name.ref
- Mar.2008: Dorset Cereals Holdings Ltd was acquired from Langholm Capital Partners.ref
- Mar.2007: Grove Fresh Ltd, a supplier of organic juices, was acquired from FSP Frischsaft Frische Produktion GmbH, a subsidiary of United Foods International plc. (United Foods was owned by the "Equalcross Settlement", a secretive Discretionary Trust based in the Isle of Man. It was voluntarily wound up in Jan.2014.)
- Feb.2007: Stream Foods Ltd was acquired from its founders/shareholders. The company supplies natural and healthy fruit snacks under the "Fruit Bowl" brand.
- Oct.2006: Healthy Food Brands Ltd, a company engaged in the blending and bottling of honey, was acquired by Rowse Honey Ltd.
- Sept.2006: Rowse Honey Ltd was acquired from its founder's son; supplies honey, maple syrup and dessert sauces.ref
- Dec.2005: Paradise Foods was acquired from ?? (todo)
- Dec.2005: Orchard House Foods Ltd: parent company AssistLight Ltd was acquired from its original founders/shareholders. The company specialised in the production and distribution of chilled fresh fruit products and patisseries.CH
- Nov.2004: Wellness Foods Ltd was incorporated.CH, Pioneer Foods (UK) Ltd,
- Jul.2003: Lydian Capital Partners LP was registered in Jersey.OC
Dorset Cereals, sold in America through retailer Whole Foods Market, was founded 20 years ago but only moved into the premium cereal brand market after a management buy-in backed by Langholm Capital.ref, Website
Rowse Honey, https://www.rowsehoney.co.uk/, https://www.insidermedia.com/insider/southeast/112669-, https://www.foodprocessing-technology.com/projects/rowse/, http://www.valeofoodsgroup.com/our-brands/our-brand-leadership, https://julianwildblog.wordpress.com/2014/04/09/rowse-honey-stays-in-irish-ownership/
Food Mergers + Acquisitions: https://www.thegrocer.co.uk/finance/mergers-and-acquisitions
Wellness Foods, https://www.fasttrack.co.uk/company_profile/wellness-foods/
Valeo Foods, backed by Origin Enterprises PLC and CapVest, co-founded by Seamus FitzPatrick. Valeo has hoovered up many of the best known Irish food brands, such as Jacobs, Fruitfield, Shamrock, Odlums, Roma, Batchelors, Sqeez, Erin and Lustre. Rowse now gives Valeo potential opportunities in the UK.
Dr Denis A Brosnan was the founder of Lydian Capital Advisors SA. He served as Executive Officer at Wellness Foods Ltd. He has been the Chief Executive officer and Director at Prommis Solutions Holding Corp. since Jan.2009. He has extensive relationships in the mortgage banking community and substantial experience in managing large-scale operational growth, mergers and acquisitions, systems improvements, and strategic change. He joined Prommis Solutions in Sept.2008 as Executive Vice President of Business Development. He was a founding partner and principal of E-A-G Consultants LLC. Since 2003, he served as Executive Vice President and General Counsel of Prizm Technologies, and AP3 Solutions. Dr. Brosnan has played a key role in organizing the fund and its advisory company and in setting its strategy. Dr. Brosnan served as Chief Executive Officer at Prommis Solutions LLC. Dr. Brosnan served as Managing Director of Kerry Group plc since its formation. He serves as Chairman of Next Generation Clubs. He serves as the Chairman of Horse Racing Ireland and Friends First Holdings Ltd, and serves as a Director of a number of other public and private companies in the UK and Ireland. Since 1994, he has been Chairman of the Irish Horseracing Authority. Dr. Brosnan served as the Chairman of Kerry Group plc from Jan.01.2002 to 2003. He serves as a Director of Kerry Group plc. He has been Director at Prommis Solutions Holding Corp. since Jan.2009. He served as Chairman of Barchester Healthcare Ltd and Grove Ltd. During his legal career, he became a recognized authority on servicing strategies to minimize legal risks in servicing subprime and defaulted mortgage loans, and he was a frequent speaker at national servicing conferences. He also successfully led the national marketing efforts of the default services section of Rogers Townsend & Thomas, PC. Dr Brosnan holds a Masters Degree from University College Cork and has been awarded a number of honorary degrees. Clemson University. He holds a B.S. degree in management from Clemson University and a juris doctorate degree from the University of South Carolina. Bloomberg
- OC, Erbium Capital Partners LP
- OC, Erbium Holdings Ltd
- Food Manufacture magazine https://www.foodmanufacture.co.uk/search?q=dorset%20cereals&t=all&p=5&ob=score&range_date=date search]
- DDG search, Erbium Capital Partners LP
- DDG search, Wellness foods, Lydian Capital Partners
- Jun.05.2014: Wellness Foods agrees Dorset Cereals Sale. Insider Media.
- Mar.22.2014: Dorset Cereals to be sold. Owner Wellness Foods is believed to be looking to sell the brand for £40m to £50m. Ashey Armstrong, The Telegraph.
- Jan.25.2015: Magnier and McManus take hold of reins at Wellness. Nick Webb, The Independent.
- Mar.26.2008: Cereals firm rides the wellness wave. Wellness Foods, the new owner of upmarket health food brand Dorset Cereals, has promised to pump further investment into the business following last... Food Manufacture.
- Mar.17.2008: Dorset Cereals sold for £50M. Wellness Foods Limited, a health food group, purchased Dorset in a deal worth a reported £50m by industry sources. The Dorset Echo.