Sir Tom Hunter reflects on year of ‘positive’ progress at West Coast Capital empire
“There are many lessons here on how we could build more houses in Scotland”
Sir Tom Hunter said he would continue to back companies with scale-up potential as he hailed a year of “positive” progress for his business empire.
Releasing the latest set of accounts for his West Coast Capital (WCC) investment vehicle, the Ayrshire-born entrepreneur and philanthropist said investment had continued across the portfolio in both equity and loans to support scaled and scaling businesses as they grow.
“We continue to remain positive in the progress the portfolio is making across the board at West Coast Capital,” noted Hunter. “As is well known we do not mark up non-listed business to value and hence are confident in the continued increase in value of our portfolio.”
He highlighted a number of deals during the financial year, including backing Matt Moulding again on taking his commerce and robotics platform Ingenuity private.
“We also backed another exceptional founder, Mike Jatania, in his purchase of The Body Shop,” added Hunter. “Major progress has been made with this business as Mike builds an exceptional team around the world and puts Body Shop back where it truly belongs as a global leader in its sector.”
The accounts cover the period to the end of March 2025 and Hunter noted that “a lot has happened since”, including WCC backing hospitality entrepreneur Kenny Blair in a management buyout of Buzzworks, while bringing in Alchemy private equity to help scale the business, which manages more than 20 venues across east, west and central Scotland, employing some 800 staff.
The Hunter Foundation founder also highlighted continued investment in WCC’s Winchburgh development alongside joint venture partner Cala.
“Notably we received full planning permission for a new railway station - we really hope to get Government funding for this in the New Year,” added Hunter.
“As we move into our 19th year of investing in Winchburgh we have never received one penny of profit back out. There are many lessons here on how we could build more houses in Scotland. However, my fear: is anyone in power listening?”
Hunter added: “And on a personal note our son Jamie has become a full partner in West Coast Capital having had a four-year apprenticeship in the business. Delighted that he completed his first deal, the purchase of Port Edgar [marina] earlier this year.
“No matter what you achieve in life nothing feels as good as when one of your kids does something special. Jamie will lead WCC as we continue to search for long term assets with predictable income streams.
“So as another year comes to a close I would like to thank all our team on the completion of another successful year. We have no debt, carry large cash balances and are always on the outlook to back exceptional founders.”
In October, it emerged that Port Edgar Marina, which lies in the shadow of the Forth bridges next to the historic town of Queensferry, had been sold to West Coast Capital for an undisclosed sum. The marina generates income from berth fees, leases to 25 commercial tenants, and marine retail operations.
Comments
Want to join the conversation? Please or to comment on this article.