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Cordovan Capital Partners completes investment

Belfast-based private equity investor Cordovan Capital Partners has added a ninth investee company to its portfolio by making a significant equity investment into Decorum Vending Limited. Decorum, based in Dorset England, specialises in providing vending solutions across the UK rail network. 

Cordovan Capital Partners, one of Northern Ireland’s most active private equity investors, has closed a significant equity investment into Decorum Vending Ltd. As Cordovan’s first deal of 2020, this investment brings the firm’s portfolio of investee companies to nine. 

This growth equity funding package which has been invested in exchange for a significant minority stake in the company will enable Decorum to continue to bring its innovative approach to the sector and fulfil recently won vending contracts across the UK rail network, placing modern smart-vending machines across high-footfall stations such as London Waterloo, Clapham Junction and Paddington. 

Daniel Anderson, Associate Director at Cordovan, commented: “This is exactly the type of investment we seek out: investing in a compelling growth company, partnering with a strong management team and providing ongoing hands-on support. Whilst Cordovan primarily invests in NI-based companies, this deal represents our first GB investment. We are delighted to partner with Declan and the wider Decorum team as they embark on an exciting period of growth in a dynamic yet underserved retail sector.”  

Declan Sewell, Managing Director of Decorum Vending Ltd., welcomed the deal, saying “The recent award of several key new contracts demonstrates that Decorum is poised to capture even greater market share. This funding from Cordovan will enable us to fulfil these contracts and scale rapidly”.