Willenhall high street giant Poundland has garnered recognition from the private equity industry for its management achievements recorded during the past year.
The Warburg Pincus-backed discount retailer picked up two awards from the British Venture Capital & Private Equity Association (BVCA), an annual celebration of the private equity industry and its star performers.
Poundland was bought by Warburg Pincus from Advent International in May 2010.
The firm, which has been on a rapid expansion course over the last few years, won the Midlands Private Equity-Backed Management Team of the Year (Large Buyout) title and its chief executive Jim McCarthy won Chief Executive of the Year in the BVCA’s Portfolio Company Awards.
Steve Coates, a managing director at Warburg Pincus, said: “I’m delighted that Jim and the team have won these awards.
“Poundland benefits from a great management team which has successfully led the rapid expansion of the business.
“We look forward to working closely with Jim and the team as the business grows further.”
Meanwhile Catapult Venture Managers’ portfolio firm Blackstar Amplification won the titles of Venture Capital-Backed Management Team of the Year and International Impact Management Team of the Year.
The Exit Management Team of the Year award went to The Deb Group, backed by Barclays Private Equity until its exit in March 2010.
The winners from the Midlands regional round will now be automatically forwarded to the national final, which will be announced at a ceremony in London on June 30.
Mark Advani, chair of the BVCA Midlands judging panel and partner at ISIS Equity Partners, said: “Once again the Midlands has produced an outstanding set of companies that really represent the best this country has to offer and underlines just what an important role the region plays in the national economy.
“The BVCA Awards are a way of celebrating the cream of business management, and this year is no exception.”
