Minerva Equity Limited - 31 March 2019 Final 19.08.2019 - Flipbook - Page 18
Minerva Equity Limited (formerly DMWSL 881 Limited)
Directors’ report
for the period ended 31 March 2019
The directors present their report together with the audited financial statements of the Group and
Company for the period 31 March 2019.
Ownership
Minerva Equity Limited (formerly DMWSL 881 Limited) is a United Kingdom incorporated company
which is owned by management and Blueprint Investments Sarl (Luxembourg). Blueprint
Investments Sarl (Luxembourg) is indirectly controlled by PAI Europe VI, a private equity fund which
is ultimately controlled by PAI Partners. PAI Partners is a leading pan-European private equity
investment firm with over €12.6 billion of assets under management.
PAI acquire majority stakes in medium to large European companies who are leading brands in their
market. PAI invest in five core sectors and are particularly focused on consolidating sectors and on
markets where growth can be sustained through economic and financial market cycles. PAI aim to
increase the profitability and long-term strategic value for the businesses they own in partnership
with the management teams.
Prior to the sale to PAI Partners on 30 July 2018, M Group Services ultimate parent company Thor
Topco Limited and all its subsidiaries were owned by First Reserve, a leading global private equity
investment firm focused on the energy sector, and our management team.
Development of the business
The performance, development and outlook for the business is summarised in the Chief Executive’s
review and the Financial review on pages 2 to 12.
Financial risk
Financial risks faced by the Group include funding, interest rate and contractual risks. The Group
regularly reviews these risks on an ongoing basis. Financing and financial risks are discussed in the
Financial review and note 19 to the financial statements.
Dividends
No dividends were paid in the period. The directors do not recommend the payment of a dividend.
Political donations
The Group made no donations to a registered political party during the period.
Directors
The directors who served during the period and up to the date of signing the financial statements
were as follows:
Chairman
Chief Executive Officer
Chief Financial Officer
Director
Director
Director
Director
Director
I E Fraser
J M Arnold
M G Beesley
C M Afors
F Fouletier
M Harrington
C P O’Sullivan
P T Barron
(appointed 21 November 2018)
(appointed 30 July 2018)
(appointed 30 July 2018)
(appointed 16 May 2018)
(appointed 30 July 2018)
(appointed 12 June 2018)
(appointed 30 July 2018)
(appointed 27 March 2018, resigned 16 May 2018)
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