Gary Partridge

Gary Partridge is a corporate financier and early-stage investor based in Cardiff with a ~25-year track record in mergers and acquisitions gained in the UK and internationally. Earlier in his career he worked with PwC, British Telecom Plc and the Development Bank of Wales. In 2015 he left a senior leadership role at PwC to strike out on his own, founding Lexington Corporate Finance in 2016 (the "lxnca" of his email address) — an award-winning, mid-market M&A boutique advising private business owners on sales, acquisitions and growth-capital fundraises, transacting in excess of £150m of deal value each year.

In 2024, Lexington Corporate Finance was acquired by FRP Advisory, and Partridge joined FRP as a Partner in its Corporate Finance team (Companies House records show he resigned his Lexington directorships on 18 July 2024, coinciding with the transaction). He remains an active dealmaker; a well-known example of his advisory work is the management buyout of veterinary training business Improve International.

Alongside the advisory business, Partridge co-founded Waterspring Ventures (incorporated November 2021, Cardiff), an early-stage venture firm created to address the shortage of private investment available to Welsh entrepreneurs. Waterspring raises roughly £2m per year from private individuals and invests up to £750k annually across about three new EIS-eligible Welsh businesses, pairing capital with hands-on support and access to a network of experts and later-stage investors. Companies House lists him among the officers of Waterspring Ventures Limited and of LXN Partners Limited (his still-active vehicle).

• Backs early-stage Welsh companies with the ambition and product to scale globally and ultimately deliver a profitable exit — the firm's stated mission is to "help the best early-stage Welsh companies scale, reach their global ambitions."
• EIS-structured seed capital: every investment is Enterprise Investment Scheme (EIS) eligible, offering investors tax relief; Waterspring targets ~3 new companies a year, up to £750k total, with individual first cheques seen in the ~£280k–£450k range.
• Co-invests with institutional partners, most often the Development Bank of Wales, layering angel capital with seed/technology funds to complete rounds (e.g. tourhub, Operati).
• Value-add beyond money: offers portfolio founders "constructive support and access to our network of industry experts and later-stage investors" — a reflection of Partridge's M&A/exit background.
• Sector lens: Waterspring is broadly tech/early-stage agnostic within Wales; Partridge's own deep sector experience is in Retail, Healthcare, Manufacturing and Telecoms.