After seven years as the major investor behind Enotria, ISIS Equity partners sold its shares and BlueGem Capital has now become the main backer.
Enotria’s senior management team remain as shareholders alongside BlueGem. The private equity fund focuses on mid-market companies in Europe, especially in the UK and Italy. It also owns central London department store Liberty.
During the seven years of involvement with ISIS, Enotria brought in Alison Levett as chief executive. Between 2005 and 2011 its turnover grew from £47 million to £106 million and the business acquired Wheeler Cellars in July 2008 and Great Western Wine in August 2010.
There are no changes to the senior management team, but Tim How, previously a non-executive director at Enotria, will become chairman.
BlueGem’s backing will allow Enotria to “significantly” grow its business in coming years through significant investment in infrastructure such as warehousing, systems and people.
Levett said the new backing “enables us to remain as a standalone company and continue on our journey to be the best in the industry”.
Marco Capello, managing partner of BlueGem, added: “BlueGem will always back growing businesses and impressive people. In Enotria we have found a best-in-class distributor with very strong management and a compelling track record of helping its suppliers and its customers to achieve quality and profitability in their wine business.”