Inflexion supports family-run companies to accelerate growth by combining 25 years’ experience of investing with respect for the unique dynamics of family enterprises.
Family-owned businesses often face a distinct challenge – how to sustain growth while preserving the values and legacy they have carefully built, sometimes over generations. Inflexion has a strong track record of supporting such businesses, providing the capital and expertise to drive expansion while respecting the family’s vision and culture.
“Culture is at the heart of successful businesses and nowhere is that more true than with family-run companies. Careful stewardship is required to unlock the growth potential and realise ambition whilst preserving core values that led to historic success” says Malcolm Coffin, Partner and Head of Inflexion’s Enterprise Fund.
Joining the shareholding of a family business requires a thoughtful and nuanced approach. Inflexion understands this well, having successfully partnered with numerous family-led companies since its inception.
Village Vets The firm’s first year with Inflexion saw double-digit growth as the vet operator continues to improve its offering.
Nodor Group Inflexion’s expertise in scaling family businesses, geographic expansion, and digital transformation is helping Nodor to continue its legacy of innovation and leadership in the world of darts.
Astrak Group The family eschewed a trade buyer in favour of an investor with a shared passion for growth. A new CFO and acquisition both followed within 100 days of partnering with Inflexion.
Huws Gray The builders merchant doubled in size when Inflexion supported its acquisition of the family-run Ridgeons with minority capital.
CTC Aviation CTC’s three-year partnership with Inflexion facilitated succession whilst keeping the business in the family.
Village Vets
Founded in 1980, Village Vets has been a trusted name in Irish veterinary care for over 40 years, growing from a single practice to the largest independent group of veterinary clinics in the Republic of Ireland with >300 employees across 28 sites. Led by CEO Charles Cosgrave, the business has evolved significantly, combining clinical excellence, innovation, and strategic expansion to meet the growing demand for high-quality pet care.
On joining the family business Charles focused on small animal care, a decision that shaped the future of Village Vets. A period spent working in the UK exposed him to the business side of veterinary care, proving to be a pivotal moment for both his career and the company. He envisioned a level of service not yet available in Ireland, transforming Village Vets into a destination for pet owners seeking specialised care.
A strong focus on training and technology has been central to Village Vets. The company launched one of the largest veterinary education programmes outside of a university setting and was one of the first practices in the world to trial AI-driven diagnostics.
Growth has also been driven through strategic M&A. Starting with the acquisition of a practice in Dundrum in 2012, the company has expanded rapidly through both acquisitions and greenfield developments in underserved areas.
The company’s progress is supported by Inflexion’s expertise through its build-up of vet chain Medivet. In its four-year partnership, Medivet doubled its headcount and number of sites in the UK whilst expanding into Europe. A key aspect was founder transition, ensuring a strong leadership team was in place for the next stage of growth. The business continues to grow, now with backing from global investor CVC.
Since the investment by Inflexion, Village Vets has launched a partnership system for owner-operators, a first in Ireland’s consolidating veterinary practice market. It offers operators the opportunity to retain an ownership stake in their practice while getting the benefit of being a part of a bigger group, with back-office functions such as marketing, HR, finance, payroll, ordering etc. centrally managed. Village Vets invests not just in the acquisitions but in the talent within, empowering professionals to take on leadership roles within their own clinics and developing specialists in fields including dentistry, dermatology, and cardiology to provide a very high level of veterinary care.
The investment has already delivered significant results, with revenues growing 14% in the first year post-investment and adding 9 sites in the first 18 months. The company has also invested in new diagnostic tools, including a CAT scan machine at its Ashbourne clinic, further enhancing its offering. Looking ahead, Village Vets plans to continue its organic and inorganic expansion through 2025 and into 2026.
Nodor Group
The Nodor Group was founded in 1919 and since then has grown organically and through acquisition into a business with production in Kenya and a site in Dallas, Texas to grow the sport of darts globally. Self-funded throughout, Inflexion partnered with the family in late 2024 to accelerate its growth.
Today’s leadership team is third-generation, with the Bluck family bringing Ford engineering experience and a passion for expanding the game through accessibility. Founder John Bluck’s wife Gill played a crucial role in growing the business in the 1970s, personally handwriting thousands of flyers and mailing them to pubs, darts clubs, and sports venues. The overwhelming response fuelled rapid growth, leading to two key acquisitions, first of Nodor in 1983, and later Winmau in 2001.
Nodor’s key brands, Winmau and Red Dragon, are the equipment names behind many of the world’s most talented professionals, with Winmau being the exclusive equipment provider to the Professional Darts Corporation and the title sponsor at the PDC World Masters. The business has over 1,500 employees across four continents and exports to over 100 countries worldwide, with products sold via trade arrangements with major retailers as well as direct to the consumer. In 2024 Nodor was recognised for its global excellence with the King’s Award for Enterprise for International Trade.
Inflexion’s investment is supporting Nodor with geographic and channel expansion, product development, and boosting its technology to enhance the customer experience. This will include integrating smart boards and apps to engage a new generation of players, while the international focus is largely on the US, where Nodor has already established an office in Dallas, Texas. The investment also facilitated the retirement of Alex Bluck, who led product development and manufacturing, while his brother, Managing Director Vince Bluck, and his wife, Commercial Director Fiona, have reinvested and remain actively involved in the business, with both their sons also involved.
“Darts is one of the fastest growing sports on the international stage, with viewership rates on Sky Sports second only to Premiership Football. Inflexion’s experience and passion in developing family run businesses will help us continue to be a driving force in this rapidly growing market and we are hugely excited about what we can achieve together,” says Vince.
Astrak Group
Astrak Group is an undercarriage and construction parts distributor which expanded from its home in Denmark into the UK in 2008 and acquired its first business in Ireland in 2010.
Over the next decade, the family-run company continued to scale, opening new locations across Europe. By 2022, with seven locations and over 100 employees, the founding family sought an opportunity for some members to step back while ensuring the business had the backing to grow further.
After considering a trade sale, they explored private equity as an alternative. “I knew very little about private equity but liked the idea of partnering with engaged investors passionate about growth,” says CEO Dick Paterson.
Following thorough discussions, the family chose Inflexion as their first institutional partner in 2022. The buyout allowed the founding father and two sons to exit, while the remaining family members were invigorated to drive the business forward. “It was the best of both worlds,” says Dick.
Within 100 days, Astrak completed a bolt-on acquisition that had been in progress the previous year. Inflexion played a key role, securing a line of credit to enable early acquisitions. “They didn’t want us to just settle in – they encouraged us to move fast,” Dick notes.
In March 2025, the firm extended its presence beyond Europe and North America into the Southern Hemisphere with the acquisition of West-Trak in New Zealand, following an initial approach nearly two years prior.
In addition to funding growth, Inflexion has helped strengthen the team, facilitating the appointment of a CFO within months of the investment. “He was known to Inflexion, and I doubt he’d have joined us without their backing,” Dick adds.
While growth remains the priority, Dick appreciates Inflexion’s pragmatic approach. “They understand that business isn’t linear and ask incredibly insightful questions that add real strategic value. Their knowledge and support are invaluable, but they don’t breathe down our necks.”
Huws Gray
Being respectful of what a family has already achieved and maintaining their values is crucial when negotiating. Between the minority capital investment in 2018 and sale to Blackstone Group in 2021, Huws Gray made over 16 acquisitions across the country, including the transformational acquisition of Ridgeons, an independent family-owned timber and builders merchants trading from 25 branches in East Anglia. This early acquisition significantly increased Huws Gray’s store base and broadened its national presence, making it the UK’s largest independent builders merchants.
To secure the deal, management of Huws Gray nurtured their relationship with the owners of Ridgeons to give the family comfort that they would be respectful custodians of the business they’d built over 107 years. Similarities in the firms’ cultures and management styles helped seal the deal, which proved transformational for Huws Gray as it doubled the size of the business overnight to become the largest independent builders merchant in the UK.
Huws Gray had already been growing steadily, with five add-on acquisitions in under six months since the initial investment, and as CEO Terry Owen stated, Inflexion was a key ally. “Inflexion helped us with larger acquisitions, such as Ridgeons, which represented a real milestone for the company. Had we remained independent, we’d not have bought this business; Inflexion gave us the support we needed.”
CTC Aviation
Established in 1995 by a founding team of professional pilots, CTC Aviation (now L3) is one of the world’s largest independent airline pilot training and resourcing companies. By 2012, profits hit £7 million and Founder Chris Clarke was looking to realise some value. He was keen to retain a share and some involvement, and for his son Rob to remain fully involved.
The business partnered with Inflexion, enabling Chris to transition leadership of the business to the core management team, headed by Rob. It also saw £10m invested by Inflexion to finance growth. A substantial part of this was global: regulatory approvals to expand into new territories in Asia and the Gulf region were secured and investment was made to open new Crew Training Centres in the UK and US as well as new trainee accommodation in New Zealand. After a successful three-year partnership, the business was sold to NYSE-listed L-3 Communications in 2015, with Rob still at the helm. In 2017 CTC rebranded to L3 Airline Academy.
Rob said at the time of the sale: “Before Inflexion’s investment in our business, we had preconceived ideas about private equity; in reality our experience was remarkably different. Our partnership with Inflexion was one of support and encouragement, presenting us with just the right amount of challenge coupled with the investment capital we needed to achieve our ambitions for growth.”
