TURNSTONE MIDCO 2 LIMITED

🌳Matureactive
07496754 · ltd · incorporated 2011-01-18
Investment thesis
Well-run mature business — low negotiation leverage; premium likely.
Why interesting: Textbook target; clean filings, stable trading.
Why risky: No pressure on seller; any deal likely at full price.
Why now
Window steady · low confidence
Steady and tidy — no seller pressure yet. Approach only if an angle opens.
Opportunity decay
hardening · 12-months
Already tight — no obvious softening catalysts on the horizon.
  • · Thesis: well-run, low negotiation leverage
What changed my view
Last 30 days

No material changes in the last 30 days.

Last 90 days

No snapshot from 90 days ago — start tracking from today.

Last 180 days

No snapshot from 180 days ago — start tracking from today.

🔒Estimated value
—
Upgrade to see
Turnover
—
not disclosed
Net worth
—
book net assets
Opportunity
78/100
Strong
🔔
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What this business does
Primary activity: Activities of other holding companies n.e.c.
Sector: Financial & insurance
Investor take
Pursue
Asset-holding vehicle with a 66-year-old founder — textbook succession opportunity.

Opportunity 78/100 (strong), bankability 77/100. Strong seller-intent signal (73/100, director aged 66). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 5 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

6 live charges · 5 lenders · oldest 15.5y

35/100
too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

  • · Oldest live charge is 15.5 years old — likely at or near maturity.
  • · 5 lenders named — inter-creditor friction likely.
  • · Legal-friction score 30/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (61/100)

Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.

Company profile
address, 1 SIC codes, incorporation date
100
Financials
No iXBRL financials extracted
0
Lenders & charges
6 charges (6/6 with lender, 6/6 with type)
90
Directors & officers
22 officers (4 active, 22 linked, 17 with DOB)
85
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
23 connected companies via shared directors
90
Filing history
96 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
78/100Strong
PassWatchWorth a lookStrongExceptional 

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
75
Strong succession / seller-readiness signals.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.

Recent activity

Last 30 days
0
filings
Last 90 days
0
filings
Last 180 days
1
filing
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (72 events)Click to expand
  1. 2026-01-04
    📄
    accounts-with-accounts-type-full
    accounts · AA
  2. 2025-10-23
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  3. 2025-10-23
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  4. 2025-10-23
    🔓
    Charge satisfied #6
  5. 2025-10-23
    🔓
    Charge satisfied #5
  6. 2025-01-31
    📄
    change-person-director-company-with-change-date
    officers · CH01
  7. 2025-01-03
    📄
    accounts-with-accounts-type-full
    accounts · AA
  8. 2024-01-10
    📄
    accounts-with-accounts-type-full
    accounts · AA
  9. 2023-03-30
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  10. 2023-03-30
    🔒
    Charge registered #6
    Lender: Ares Management Limited (As Security Trustee for the Secured Parties (as Defined in the Instrument))
  11. 2023-01-10
    📄
    accounts-with-accounts-type-full
    accounts · AA
  12. 2022-10-31
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  13. 2022-09-02
    ➕
    STORAH, Richard appointed
    director
  14. 2022-03-04
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  15. 2022-03-04
    🔓
    Charge satisfied #4
  16. 2021-10-14
    📄
    accounts-with-accounts-type-group
    accounts · AA
  17. 2021-08-26
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  18. 2021-08-18
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  19. 2021-08-16
    ➖
    BOWKETT, Alan John resigned
    director
  20. 2021-08-16
    🔒
    Charge registered #5
    Lender: Ares Management Limited (As Security Trustee for the Secured Parties (as Defined in the Instrument))
  21. 2021-05-05
    📄
    change-person-director-company-with-change-date
    officers · CH01
  22. 2020-12-07
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  23. 2020-11-27
    ➕
    PANDYA, Nilesh Kundanlal appointed
    director
  24. 2020-09-24
    📄
    accounts-with-accounts-type-group
    accounts · AA
  25. 2020-07-27
    ➕
    BOWKETT, Alan John appointed
    director
  26. 2020-07-27
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  27. 2020-03-12
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  28. 2020-03-12
    📄
    appoint-person-secretary-company-with-name-date
    officers · AP03
  29. 2020-01-31
    ➕
    ROSEBY, Stephen appointed
    secretary
  30. 2020-01-31
    ➖
    CARROLL, Leo Damian resigned
    secretary
  31. 2019-04-05
    ➖
    SHAFI KHAN, Mohammed Omar resigned
    director
  32. 2018-10-24
    ➖
    BONNAVION, Jean Michel Claude resigned
    director
  33. 2018-10-24
    ➖
    ELSON, Louis Goodman resigned
    director
  34. 2018-10-19
    ➖
    BURGESS, Andrew Richard resigned
    director
  35. 2018-10-19
    ➖
    JAYARAMAN, Karthic resigned
    director
  36. 2017-10-16
    ➕
    SHAFI KHAN, Mohammed Omar appointed
    director
  37. 2017-07-31
    ➕
    CARROLL, Leo Damian appointed
    secretary
  38. 2017-07-31
    ➖
    ROBSON, William Henry Mark resigned
    secretary
  39. 2017-07-31
    ➖
    ROBSON, William Henry Mark resigned
    director
  40. 2017-05-08
    ➕
    RIALL, Tom appointed
    director
  41. 2017-03-31
    ➖
    SCICLUNA, Terence Joseph resigned
    director
  42. 2016-10-03
    ➕
    BURGESS, Andrew Richard appointed
    director
  43. 2016-10-03
    ➕
    JAYARAMAN, Karthic appointed
    director
  44. 2016-10-03
    ➖
    KUMP, Eric John resigned
    director
  45. 2016-10-03
    ➖
    PINDAR, Paul resigned
    director
  46. 2016-10-03
    ➖
    STIRLING, Alexis George resigned
    director
  47. 2016-08-18
    🔓
    Charge satisfied #3
  48. 2016-08-05
    🔒
    Charge registered #4
    Lender: U.S. Bank Trustees Limited
  49. 2014-10-31
    ➖
    MCDONALD, Elizabeth resigned
    secretary
  50. 2014-10-31
    ➕
    ROBSON, William Henry Mark appointed
    secretary
Showing most recent 50 of 72 events

Owner dependency

65/100
High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS
  • +Founder age: Director aged approximately 66 — succession pressure is live.

Succession & seller-readiness

60/100
Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 66. Approaching typical UK retirement age — succession thinking likely.
  • secondaryStable-but-static management: Company is 16 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

1 med ·
Charge satisfaction-then-recreation pattern
medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

Group structure

2 corporate shareholders identified. Group structure is distributed.

🏛️
Turnstone Equityco 1 Limited
Corporate parent · board control
🏛️
Turnstone Midco 1 Limited
Corporate parent · holds 75-100% shares · board control
ultimate parent
⬇
TURNSTONE MIDCO 2 LIMITED
This company · 07496754

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

2 active beneficial owners · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Turnstone Midco 1 Limited
Corporate entity
75–100%
75–100%board control75-100% shares · 75-100% voting · board control06/04/2016
Turnstone Equityco 1 Limited
Corporate entity
——board controlboard control06/04/2016

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

🔒Co-director network graph

Radial SVG graph showing every company connected via shared directors, colour-coded by status.

Available from the Pro tier upwards.

See pricing →

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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

7 specific questions generated from this company's actual signals — liquidity, leverage, director age, charge count, red flags, age-of-company.

Available from the Pro tier upwards.

See pricing →
🔒Advanced scoring suite

Exit-route ranking, improvement thesis, quiet-distress detector, covenant-pressure proxy, extraction monitor, approaching triggers, ownership drift, local cluster, value trap, debt capacity, archetype classification — 48+ scoring modules.

Available from the Pro tier upwards.

See pricing →

Company details

Statusactive
Typeltd
Incorporated2011-01-18
Jurisdictionengland-wales
Primary SIC64209 — Activities of other holding companies n.e.c.

Registered office

Europa House Europa Trading Estate
Stoneclough Road, Kearsley
Manchester
M26 1GG

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-02-18
Last: 2026-02-04

Officers (4 active · 18 resigned)

ROSEBY, Stephen→
secretary · appointed 2020-01-31
View their other companies + combined net worth →
Active
PANDYA, Nilesh Kundanlal→
director · ~55y · appointed 2020-11-27
View their other companies + combined net worth →
Active
RIALL, Tom→
director · ~66y · appointed 2017-05-08
View their other companies + combined net worth →
Active
STORAH, Richard→
director · ~49y · appointed 2022-09-02
View their other companies + combined net worth →
Active
CARROLL, Leo Damian→
secretary · appointed 2017-07-31 · resigned 2020-01-31
Resigned
MCDONALD, Elizabeth→
secretary · appointed 2012-11-12 · resigned 2014-10-31
Resigned
ROBSON, William Henry Mark→
secretary · appointed 2014-10-31 · resigned 2017-07-31
Resigned
HACKWOOD SECRETARIES LIMITED→
corporate-secretary · appointed 2011-01-18 · resigned 2011-01-18
Resigned
BONNAVION, Jean Michel Claude→
director · ~55y · appointed 2011-05-11 · resigned 2018-10-24
Resigned
BOWKETT, Alan John→
director · ~75y · appointed 2020-07-27 · resigned 2021-08-16
Resigned
BURGESS, Andrew Richard→
director · ~62y · appointed 2016-10-03 · resigned 2018-10-19
Resigned
ELSON, Louis Goodman→
director · ~64y · appointed 2014-01-09 · resigned 2018-10-24
Resigned
HEATHCOTE, Jonathan Lister→
director · ~65y · appointed 2011-05-11 · resigned 2013-11-26
Resigned
JAYARAMAN, Karthic→
director · ~51y · appointed 2016-10-03 · resigned 2018-10-19
Resigned
KUMP, Eric John→
director · ~56y · appointed 2011-01-18 · resigned 2016-10-03
Resigned
NEWCOMBE, Paul Alan→
director · ~61y · appointed 2011-01-18 · resigned 2011-01-18
Resigned
PINDAR, Paul→
director · ~67y · appointed 2012-07-02 · resigned 2016-10-03
Resigned
ROBSON, William Henry Mark→
director · ~63y · appointed 2012-07-02 · resigned 2017-07-31
Resigned
SCICLUNA, Terence Joseph→
director · ~69y · appointed 2013-11-29 · resigned 2017-03-31
Resigned
SHAFI KHAN, Mohammed Omar→
director · ~52y · appointed 2017-10-16 · resigned 2019-04-05
Resigned

Click a director name to see their full track record across all companies.

Mortgages & charges

6
Total charges
0
Outstanding
0
Active lenders
Status:Lender:6 of 6 shown
TypeProperties
satisfied
Ares Management (As Security Trustee for the Secured Parties (as Defined in the Instrument))
Ares Management Limited (As Security Trustee for the Secured Parties (as Defined in the Instrument))
A registered charge—30/03/202323/10/2025
satisfied
Ares Management (As Security Trustee for the Secured Parties (as Defined in the Instrument))
Ares Management Limited (As Security Trustee for the Secured Parties (as Defined in the Instrument))
A registered charge—16/08/202123/10/2025
satisfied
U.S. Bank Trustees
U.S. Bank Trustees Limited
A registered charge—05/08/201604/03/2022
satisfied
U.S. Bank Trustees (The "Security Agent")
U.S. Bank Trustees Limited (The "Security Agent")
A registered charge1 property30/05/201318/08/2016
satisfied
Ing Bank N.V., London Branch
Fixed and floating security document1 property10/05/201130/05/2013
satisfied
Ing Bank N.V., London Branch (As Security Agent)
A fixed and floating security document1 property28/01/201109/06/2011

Recent filings (96 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-02-06
accounts-with-accounts-type-full
accounts · AA
2026-01-04
mortgage-satisfy-charge-full
mortgage · MR04
2025-10-23
mortgage-satisfy-charge-full
mortgage · MR04
2025-10-23
change-person-director-company-with-change-date
officers · CH01
2025-01-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-28
accounts-with-accounts-type-full
accounts · AA
2025-01-03
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-01-22
accounts-with-accounts-type-full
accounts · AA
2024-01-10
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2023-03-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-23
accounts-with-accounts-type-full
accounts · AA
2023-01-10
appoint-person-director-company-with-name-date
officers · AP01
2022-10-31
mortgage-satisfy-charge-full
mortgage · MR04
2022-03-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-01-18