Key People
The Team
Our personality is down-to-earth and direct. We’re smart, ambitious, confident and successful but unpretentious and fundamentally decent. We’re definitely someone you want on your side.
James Hall
Managing Partner
James Hall
Managing Partner
james.hall@keycapitalpartners.co.uk
0113 426 4113
Leeds
13 Park Place
Leeds
LS1 2SJ
James brings with him a wealth of private equity experience, having seemingly started in PE before even finishing school. A staunch Yorkshire man (who did once venture over to the other side of the Pennines earlier in his career), James’ passion for business (and bikes…and football) is second to none. As Managing Partner, James leads our business and is as keen as ever to do his best for owner managed businesses.
James Hall
Managing Partner
James Hall
Managing Partner
james.hall@keycapitalpartners.co.uk
0113 426 4113
Leeds
13 Park Place
Leeds
LS1 2SJ
James brings with him a wealth of private equity experience, having seemingly started in PE before even finishing school. A staunch Yorkshire man (who did once venture over to the other side of the Pennines earlier in his career), James’ passion for business (and bikes…and football) is second to none. As Managing Partner, James leads our business and is as keen as ever to do his best for owner managed businesses.
Laura Howes
Finance & Operations Director
Laura Howes
Finance & Operations Director
laura.howes@keycapitalpartners.co.uk
0113 426 4116
Leeds
13 Park Place
Leeds
LS1 2SJ
Having spent 8 years in Corporate Finance before joining Key, Laura originally joined the firm to lead origination efforts and is now in charge of all things finance and operations. When she’s not managing the purse strings of the firm, you can guarantee Laura will either be doing something creative such as whipping up a fancy dress outfit or planning her next trip to her beloved Valencia!
James Excell
Partner
James Excell
Partner
james.excell@keycapitalpartners.co.uk
0203 334 9811
London
Scott House, Suite 1 The Concourse
Waterloo StationLondon
SE1 7LY
After James’ boyhood dreams of playing professional sport failed to materialise, he did the next best thing and became an Accountant. Prior to Key, James spent the best part of a decade supporting small and medium sized businesses through turnarounds, restructurings, acquisitions and disposals. Despite the accumulating airmiles, a life in consulting was not for James and he joined the team in 2016.
Ellie Nicholls
Investment Manager
Ellie Nicholls
Investment Manager
ellie.nicholls@keycapitalpartners.co.uk
0203 334 9811
London
Scott House, Suite 1 The Concourse
Waterloo StationLondon
SE1 7LY
Ellie began her career as an economic researcher for government statistics, but in search of some more exciting chat, she made the move into the private sector. Before joining Key in 2025, Ellie built her expertise in Transaction Services, working with small and medium-sized businesses across the South region. When she’s not busy making deals happen, you’ll find Ellie training for her next endurance event or hosting dinner parties for friends – finally with a conversation starter that doesn’t involve government statistics!
Matt Tice
Director
Matt Tice
Director
matt.tice@keycapitalpartners.co.uk
0113 426 4115
Leeds
13 Park Place
Leeds
LS1 2SJ
Matt is a corporate financier turned private equity investor, joining the Leeds team in 2018. Rumour has it that Matt has never turned down an invitation for a beer so is a great contact to have on your networking list. Whilst his hometown football club AFC Rushden & Diamonds doesn’t always deliver, Matt has completed several of Key’s successful current and realised investments over the past 7 years.
Mike Fell
Chairman
Mike Fell
Chairman
mike.fell@keycapitalpartners.co.uk
0203 334 9811
London
Scott House, Suite 1 The Concourse
Waterloo StationLondon
SE1 7LY
After 35 years working in private equity Mike wonders if he’s seen it all, but the truth is no one day is the same. He can’t believe he is still learning on the job. Mike is at his best working with business owners and management teams. Mike co-founded Key Capital in 2007.
Owen Trotter
Investment Committee Chair
Owen Trotter
Investment Committee Chair
owen.trotter@keycapitalpartners.co.uk
0113 426 4110
Leeds
13 Park Place
Leeds
LS1 2SJ
A co-founder of Key in 2007, Owen has now stepped back from the day-to-day but remains an investment committee member (and a dedicated Lincoln City FC fan).
Philip Duquenoy
Partner
Philip Duquenoy
Partner
philip.duquenoy@keycapitalpartners.co.uk
0203 334 9811
London
Scott House, Suite 1 The Concourse
Waterloo StationLondon
SE1 7LY
Unlike most of the Key team, Phil has actually had a real job. After an early career as an investor, Phil joined the management team of a pharmaceutical services business which received private equity investment, successfully grew and was sold to a trade player. After a few years sampling wines and bike tracks in Normandy, Phil re-joined the investment world and the Key team in 2012. Into music or guitars? Phil is the man to speak to.
James Hall
Managing Partner
James Hall
Managing Partner
james.hall@keycapitalpartners.co.uk
0113 426 4113
Leeds
13 Park Place
Leeds
LS1 2SJ
James brings with him a wealth of private equity experience, having seemingly started in PE before even finishing school. A staunch Yorkshire man (who did once venture over to the other side of the Pennines earlier in his career), James’ passion for business (and bikes…and football) is second to none. As Managing Partner, James leads our business and is as keen as ever to do his best for owner managed businesses.
Laura Howes
Finance & Operations Director
Laura Howes
Finance & Operations Director
laura.howes@keycapitalpartners.co.uk
0113 426 4116
Leeds
13 Park Place
Leeds
LS1 2SJ
Having spent 8 years in Corporate Finance before joining Key, Laura originally joined the firm to lead origination efforts and is now in charge of all things finance and operations. When she’s not managing the purse strings of the firm, you can guarantee Laura will either be doing something creative such as whipping up a fancy dress outfit or planning her next trip to her beloved Valencia!
James Excell
Partner
James Excell
Partner
james.excell@keycapitalpartners.co.uk
0203 334 9811
London
Scott House, Suite 1 The Concourse
Waterloo StationLondon
SE1 7LY
After James’ boyhood dreams of playing professional sport failed to materialise, he did the next best thing and became an Accountant. Prior to Key, James spent the best part of a decade supporting small and medium sized businesses through turnarounds, restructurings, acquisitions and disposals. Despite the accumulating airmiles, a life in consulting was not for James and he joined the team in 2016.
Ellie Nicholls
Investment Manager
Ellie Nicholls
Investment Manager
ellie.nicholls@keycapitalpartners.co.uk
0203 334 9811
London
Scott House, Suite 1 The Concourse
Waterloo StationLondon
SE1 7LY
Ellie began her career as an economic researcher for government statistics, but in search of some more exciting chat, she made the move into the private sector. Before joining Key in 2025, Ellie built her expertise in Transaction Services, working with small and medium-sized businesses across the South region. When she’s not busy making deals happen, you’ll find Ellie training for her next endurance event or hosting dinner parties for friends – finally with a conversation starter that doesn’t involve government statistics!
Matt Tice
Director
Matt Tice
Director
matt.tice@keycapitalpartners.co.uk
0113 426 4115
Leeds
13 Park Place
Leeds
LS1 2SJ
Matt is a corporate financier turned private equity investor, joining the Leeds team in 2018. Rumour has it that Matt has never turned down an invitation for a beer so is a great contact to have on your networking list. Whilst his hometown football club AFC Rushden & Diamonds doesn’t always deliver, Matt has completed several of Key’s successful current and realised investments over the past 7 years.
Mike Fell
Chairman
Mike Fell
Chairman
mike.fell@keycapitalpartners.co.uk
0203 334 9811
London
Scott House, Suite 1 The Concourse
Waterloo StationLondon
SE1 7LY
After 35 years working in private equity Mike wonders if he’s seen it all, but the truth is no one day is the same. He can’t believe he is still learning on the job. Mike is at his best working with business owners and management teams. Mike co-founded Key Capital in 2007.
Owen Trotter
Investment Committee Chair
Owen Trotter
Investment Committee Chair
owen.trotter@keycapitalpartners.co.uk
0113 426 4110
Leeds
13 Park Place
Leeds
LS1 2SJ
A co-founder of Key in 2007, Owen has now stepped back from the day-to-day but remains an investment committee member (and a dedicated Lincoln City FC fan).
Philip Duquenoy
Partner
Philip Duquenoy
Partner
philip.duquenoy@keycapitalpartners.co.uk
0203 334 9811
London
Scott House, Suite 1 The Concourse
Waterloo StationLondon
SE1 7LY
Unlike most of the Key team, Phil has actually had a real job. After an early career as an investor, Phil joined the management team of a pharmaceutical services business which received private equity investment, successfully grew and was sold to a trade player. After a few years sampling wines and bike tracks in Normandy, Phil re-joined the investment world and the Key team in 2012. Into music or guitars? Phil is the man to speak to.