GLASGOW-based Nevis Capital has underlined its appetite for deals amid the recovery from the pandemic.

Nevis said it expects to add at least one new business to its investment portfolio this year, following a period in which the coronavirus crisis and the fallout from the Brexit vote in 2016 have posed challenges for dealmakers.

The investment business signalled confidence in the outlook for the economy in November by backing a management buyout of Clydebank-based Hardie Polymers, which was the first company added to its portfolio for four years.

Hardie was founded in Glasgow around 100 years ago.

READ MORE: Venerable Clydebank firm to create jobs after management buyout

Nevis partner Brian Aitken noted at the time that Hardie Polymers was busier than it had ever been, after developing a leading position in the market to supply polymers to manufacturers working in sectors such as automotive, aerospace and electronics.

In a review of activity in 2021, Nevis said: “Hardies ticked all of the boxes with an ambitious and capable management team who have spent much of their working lives with the business; a large and growing UK market for polymers; and a long-term track record of steady financial performance.”

In the review, Nevis said that investments it made in portfolio companies amid the challenges posed by the pandemic had paid off.

The Glasgow-based Merkland Tank business, which Nevis backed in 2017, enjoyed its strongest year yet.

Temporary power specialist DTGen is eyeing expansion in England after growing revenues by 20 per cent, to £19.1 million.

READ MORE: North Sea heavweight warns on windfall tax after enjoying huge gas price boost

Growth in the English market was a significant factor in the firm’s success in 2021, during which sales increased to £19.1 million from around £16m.

The company, which supplies generators for use in settings in which uninterrupted power is required, made progress in sectors such as health, data, financial services, education and manufacturing.

HeraldScotland: DTGen group commercial director Gordon KerrDTGen group commercial director Gordon Kerr

Milngavie-based DTGen said it has recruited chartered accountant Gordon Kerr to serve as group commercial director in support of its plans to expand nationally.

Mr Kerr joins DTGen from Seanamic Group where he was chief financial officer

DTGen developed out of the business formed by the 2010 takeover of Thistle Generators by the Dieselec business that Nevis bought in to that year.

John and James Pirrie founded Nevis Capital in 2007 after the £62 million sale of their LCH Generators business to Speedy Hire. Mr Aitken was a dealmaker at PwC before becoming a founding partner in Nevis.