finnCap is pleased to announce it has acted as buy-side adviser to Baird Capital on a growth capital investment from its Global Private Equity team, into Freemarket. The investment supports Freemarket’s continuing fast growth and international expansion, as well as providing a partial cash-out to existing shareholders.

Founded in 2011, Freemarket provides its customers with reliable and efficient B2B cross-border payments through its proprietary technology platform.  Freemarket’s global banking network and innovative technology platform enables customers to send payments/funds efficiently to over 100 countries in 140 currencies, removing cross-border payments complexities, improving transparency and increasing efficiency.

This deal underscores finnCap’s experience in the payments and fintech sector and was delivered by a multi-product team covering private markets M&A and public markets insight.

Ben Goldring, Head of Financial Services at finnCap, commented:

“We are delighted to have supported Baird Capital on this transaction, which will provide Freemarket with the ability to accelerate its growth trajectory. The regulated cross-border payments vertical is fast-growing and I expect there to be continued investment in the sector. I look forward to seeing Freemarket’s continued success in partnership with Baird Capital.”

finnCap Capital Markets acted as nominated adviser and broker in connection with Fadel Partners, Inc.’s AIM IPO. The Company raised £8m in order to execute on its next phase of growth.

Fadel is a leading developer of cloud-based brand compliance and rights and royalty management software, working with some of the world's leading licensors and licensees across media, entertainment, publishing, consumer brands and hi-tech/gaming companies.

finnCap Capital Markets has successfully raised £6 million for Ocean Harvest Technology's AIM IPO, with shares admitted to trading on AIM earlier today.

As one of the leading producers of seaweed blend ingredients for the animal feed market, Ocean Harvest Technology's unique products provide significant benefits to animal gut health, mortality, yield and sustainability.

The net proceeds of the Placing will be used by the Group to conduct effective marketing and grow further the Company’s global sales team, build out further the Company’s supply chain, including additional manufacturing capacity, conduct further R&D to continue to innovate and develop its products, expand production capacity at the Group’s facility in Vietnam, and provide general working capital. It will also provide access to capital should additional financing be required in the future to further expand the business.

finnCap Cavendish, part of finnCap Group plc, is pleased to announce it has advised on the sale of purpose-driven professional services firm Gemserv, to Talan, an international technology-led consulting group. The acquisition marks a significant moment in Gemserv’s journey to become the go-to advisory firm in the movement towards energy and digital transition. The deal will double the size of Talan’s UK operations and provide Gemserv with the increased scale and capabilities required to accelerate growth.

Founded in 2002 by the UK’s leading energy suppliers and electricity network companies, Gemserv was set up to manage and facilitate the opening of the electricity market to competition. More recently, management has diversified both the service offering and industry verticals to tackle today’s social and environmental challenges.

The Business provides a range of technology-led consultancy and outsourcing capabilities including programme management, market design and governance, cyber security and digital transformation. Gemserv holds social change and sustainability at the heart of its operations; it is a B Corp, is IIP Gold accredited and a Financial Times Leading Management Consultancy for 2021 and 2022. Its purpose is making things that matter work better for everyone.

Advisers to Gemserv were finnCap Cavendish (Corporate Finance) and Osborne Clarke (Legal).

Alex Goody, Gemserv’s Chief Executive Officer, commented:

“I’m delighted that Gemserv is joining the Talan group of companies.  Talan’s model is highly entrepreneurial and offers synergies and growth potential, including opening exciting international opportunities in the areas we seek to make a difference. Talan are 100% behind our strategy and we will continue to support our existing clients – like those in energy code governance – as well as further growing out across new sectors and services. Having an aligned shareholder with a consultancy growth track record allows Gemserv to bolster its capability and increase focus on combining energy and digital expertise. Importantly, being part of a bigger group of companies with similar values means we can offer greater career development and progression opportunities for our people.”

“The Cavendish team did a great job of running a competitive process to establish the best transaction options available for our stakeholders. They were instrumental in delivering the Talan deal and were a pleasure to work with.”

Andrew Jeffs, Partner at finnCap Cavendish, said:

“We thoroughly enjoyed working with the Gemserv team who were at an exciting inflexion point. Joining forces with Talan gives them even more scope to positively impact society. The deal is another example of finnCap Cavendish’s expertise within consultancy and professional services space and is the most recent of a string of deals that have ESG and social purpose at their core”.

finnCap Cavendish, part of finnCap Group plc, is pleased to announce it has advised on the sale of Therapy Equipment Limited to ESAB Corporation. Founded in 1983, Therapy Equipment Ltd. is a regional leader in the United Kingdom in the medical gas control market for suction and oxygen equipment. The business holds strong market leadership across the United Kingdom and the portfolio includes trusted suction equipment, flowmeters, and medical regulators used in healthcare facilities across the region and internationally.

Therapy Equipment is headquartered in England and employs approximately 30 associates. Together with GCE, GasArc, Ohio Medical, and Victor, the acquisition of Therapy Equipment Ltd. further positions ESAB Corporation as a leading global gas control company with supplier-of-choice brands across the world for the industrial, medical, and specialty gas industries.

Therapy Equipment was majority owned by Owner Venture Managers, who bought the business from the founding Munn family in 2019, and subsequently expanded its domestic and international footprint for the trusted product range.

Advisers to OVM and Therapy Equipment were finnCap Cavendish (corporate finance) and Flint Bishop (legal).

Piyush Sheth, Vice President and General Manager, Gas Control, commented:

“Our acquisition of Therapy Equipment showcases our continued investment in our leading global gas control portfolio. We are excited to combine our global expertise and capitalise on innovation for our global customers across the medical, industrial and specialty gas control industries from our portfolio.”

James Wooster, Director of Owner Venture Managers, commented:

“We are delighted that Therapy Equipment will now go forward under the ESAB Corporation umbrella, who will provide further reach and innovation. The finnCap Cavendish team, led by Michael Jewell, did a fantastic job, running a truly competitive international process and managing the transaction through the diligence process with great skill. They were instrumental in delivering this deal and the strong outcome.”

Michael Jewell, Partner at finnCap Cavendish, commented:  

“We are very proud to have advised on this deal, further cementing finnCap Cavendish’s expertise in the fast-growing healthcare market. This transaction is particularly important given the genuine impact Therapy Equipment Limited’s products have on the provision of healthcare in the United Kingdom and beyond.”

finnCap Cavendish, part of finnCap Group plc, is pleased to announce it has advised the three Founders of MBI Healthcare Technologies (“MBI”), John Bull, Emilios Evangeli and Barry Mulholland, on the acquisition of the firm by global quality assurance and risk management provider DNV.

MBI Healthcare Technologies supplies healthcare providers with artificial intelligence-backed technology and data quality expertise to reduce patient safety risks, deliver care more efficiently and bring down waiting times for elective treatment. The company tackles the growing challenge of patient data being imprecisely recorded in electronic health record systems.

MBI Healthcare Technologies has worked with more than 80 healthcare providers in the UK to improve elective care performance over the past decade. Its LUNA software platform has been used to manage more than 40 million patient pathways, and the company has assessed more than 10 million clinical documents.

The acquisition forms part of DNV’s strategic expansion into the digital health market, where it aims to significantly grow its presence through innovation, acquisitions, and partnerships. DNV and MBI will work to rapidly scale the MBI’s solutions in the UK, target growth in international markets, and bring new data assurance technologies to the healthcare sector. MBI Healthcare Technologies’ management will continue to lead the company’s growth, supported by an international team of commercial and domain experts from DNV.

The deal was led by Karri Vuori, Partner, and executed by Harry Radburn, Associate, at finnCap Cavendish.

Remi Eriksen, Group President and CEO of DNV at DNV, commented:

“DNV’s investment in MBI Healthcare Technologies aims to accelerate data quality improvements in the healthcare sector. MBI Healthcare Technologies has developed sector-leading services and with their artificial intelligence-powered solution we will make a significant impact on the digital transformation of the healthcare system. With this investment we will further enhance DNV’s strength in providing trust and assurance to the healthcare sector.”

Karri Vuori, Partner at finnCap Cavendish, commented:

“This transaction is particularly close to my heart given the genuine impact MBI and its founders have on the quality of healthcare and ultimately human lives. It also marks the second time I’ve advised one of the founders on a notable healthcare technology exit. DNV is a fantastic partner for MBI allowing them to rapidly scale their groundbreaking technology and with a shared culture of impact.”

• finnCap advises on fundraising for Ro&Zo
• Transaction completed by all-female founder team and all-female advisers

finnCap Group is delighted to announce it has advised accessible womenswear brand Ro&Zo on its first ever external funding round.  Pembroke,  the highly regarded consumer focused VCT, has invested £1.5 million in the business.

Ro&Zo, which was founded by Rachel Heather, Rosie Bowden and Zoe de Abreu in February 2021, has achieved outstanding growth despite the obvious economic headwinds.  The brand, which is led by CEO Rachel Heather, is sold in 15 John Lewis stores, johnlewis.com and Next online and is stocked on Zalando in Europe.

This round of investment will help Ro&Zo drive its direct to consumer business by raising awareness of its brand, develop its operations capability and scale the business in the UK. As part of this Ro&Zo is looking to launch its first high street store to provide an experience-driven, high quality omnichannel experience and is using data to find the best location suited to its customer profile.

Rachel Heather, CEO and co-founder of Ro&Zo, said:

“We are immensely grateful for the hard work and expertise we received from finnCap in securing this fundraise. Zuleika’s knowledge and communication skills were outstanding. It is the first time we have raised external funds so we were heavily reliant on their introductions, all of which were a good fit for Ro&Zo. Zuleika’s guidance through the process was exemplary. We are delighted to have chosen Pembroke as our new shareholders and look forward to a long relationship with them as we continue our growth strategy.”

Zuleika Salter, Head of Private Growth Capital of finnCap, commented:

“It’s an incredibly tough market for consumer brands at the moment so to have secured this funding for the team is testament to the strength of the business and a vote of confidence in the founders. It has been a real privilege to work with the phenomenally talented team at Ro&Zo. I look forward to following their success.”

finnCap Cavendish, part of finnCap Group plc, is delighted to announce it has advised the shareholders of William Morris London, the iconic British eyewear brand, on a sale of shares to Design Eyewear Group. The price and other terms have not been disclosed.

Following the transaction, Robert Morris, who founded William Morris London in 1996, will continue as Founder and Senior Brand Ambassador. As well as Robert’s ongoing creative input to product design and brand at William Morris London, he will help the customers and employees of the Design Eyewear Group gain an insight into William Morris London’s DNA and British design philosophy.

The deal was led by Jonathan Buxton, Partner and Mike Dinsdale, Director, supported by Leo Holdsworth, Senior Analyst.

Robert Morris, Founder and Creator of William Morris, commented:

“I’m excited that William Morris London is now joining a very professional and global company like Design Eyewear Group.

I’m very proud of the development William Morris London has undergone since it all began more than 25 years ago. I’m also convinced that Design Eyewear Group is the right partner to grow the company further through their established global sales network.”

Lars Flyvholm, CEO of Design Eyewear Group, commented:

“I’m proud that Design Eyewear Group has announced the takeover of such a reputable company with strong and exciting brands. With the acquisition of William Morris London, we’ve strengthened our position as a design brand house, and we’re pursuing our ambition to become one of the world’s leading multi-brand providers of design eyewear to independent opticians.

William Morris London’s brands each have a unique story based on the British design philosophy. The brands’ DNA and position in the market fit perfectly with Design Eyewear Group’s growth strategy and product range, and we look forward to joining forces to offer our customers an expanded, enhanced brand portfolio that caters for many different target groups and price classes.”

Jonathan Buxton, Partner at finnCap Cavendish, commented:

“I am delighted to have found such a fantastic home for William Morris London. We had the privilege of working with Robert Morris for several years ahead of the transaction and our in-depth knowledge of the business was incredibly useful when putting the deal together. Many congratulations to Robert and the team at William Morris!

The sale to Design Eyewear Group highlights our ability to access international purchasers and is our 10th transaction in the eyewear sector.”

finnCap Cavendish, part of finnCap Group plc, is pleased to announce it has advised on the sale of Peach Pubs to Revolution Bars Group plc for a cash consideration of £16.5 million.

Peach operates a collection of 21 award winning, premium gastropubs located in the South of England and the Midlands. The business is well-aligned to key structural trends, addressing customer demand for quality and locally sourced food and exceptional service in attractive surroundings.

Revolution is a leading operator of 69 premium bars, operating principally under two brands, Revolution (49 bars) and Revolucion de Cuba (18 bars).

The combined business will benefit from diversification and be strongly growth oriented. The acquisition provides greater balance to the enlarged business and diversified trading patterns and income streams.  Significant cost synergies are expected to result from the acquisition.

The entire operations team of Peach, led by Chris Stagg, will remain with Peach following the acquisition.

finnCap advised the founders of Peach on the sale. The deal was led by Henry Wells, Partner and Head of Consumer at finnCap Cavendish, supported by Mark Stoddart, Director; Hugh Ripley, Senior Associate; and Ellen Hudson, Associate.

Hamish Stoddart, co-founder & CEO, Peach Pubs, said:

“On behalf of all of the shareholders at Peach, a huge thank you to the team at finnCap Cavendish – they have done a great job.  With the unprecedented macro back-drop that we have all been experiencing, we needed an adviser who was thoughtful, tenacious and prepared to go the extra mile.  We got of all this in spades from the finnCap Cavendish team and it has been a pleasure to work with them. We would not hesitate to recommend them to other business founders and entrepreneurs who are in need of experience-led judgement and advice.”

Rob Pitcher, CEO, Revolution Bars Group, said:

“This is an exciting and transformative opportunity for Revolution. It broadens our guest base, balances our day part sales and seasonality whilst providing another avenue for growth both organically and by acquisition.

Peach is a quality business with great pubs offering a premium experience. It has rebounded strongly from the dark days of the pandemic. Central to this success has been a strong people focused culture with clear values that are focused on making the right choices for guests and our teams, a very similar approach to that taken at Revolution.

We welcome the Peach team to Revolution where they can continue their excellent work delighting guests and seek continued personal development in a business with a multi-pronged strategy that has similar values, ambition, and drive for excellence, which Peach has clearly displayed over the last 20 years.

I would like to acknowledge the exceptional work of Lee Cash, Hamish Stoddart and Jo Eames, as the founders of Peach, for creating an industry leading collection of premium gastro pubs.”

Henry Wells, Partner and Head of Consumer at finnCap Cavendish, commented:

“Congratulations to the Peach Pubs team – they have done a great job in creating a differentiated gastropub offering with community and ESG at its heart.  The business now has a great new home, and we are sure it will flourish under its new ownership at Revolution Bars Group. We are delighted to have advised the business and its shareholders on this successful completion and the success of this transaction is testament to the finnCap Cavendish deal team and their hard work. This transaction further underlines our quality consumer credentials and our ability to get consumer deals completed despite the challenging macro-economic environment.”

finnCap Capital Markets is delighted to have advised Surface Transforms on securing funding through a £16m placing and up to a further £2m through open offer. This fundraise supporting the profitable growth phrase.

finnCap Capital Markets is delighted to have advised Haydale Graphene on securing funding including a £5m placing and an Open Offer for up to 25.5m shares. Haydale Graphene is a key enabler of the nanomaterials revolution. 

Raymond Greaves, Head of Research, finnCap Capital Markets, comments: “We’re very pleased to have advised Haydale Graphene on securing further funding. Haydale is a world class industrial technology company in the nanomaterials space. This funding gives clarity to the business as it enters a phase of significant scale-up, driven by commercial momentum in many diverse areas such as biomedical inks, heating system efficiency and concrete protection.”

finnCap Capital Markets is delighted to have advised IQGeo, a specialist developer of geospatial software, on its acquisition of Comsof NV, a Belgium-based developer of automated planning and design software for fibreoptic networks, and its £3.5m fundraise. In addition to providing  a new European hub and c.100 logos to the Groups current roster, the acquisition will broaden the IQGeo product offering upstream, strengthening the Group’s ability to secure customers at an earlier stage and generate opportunities to upsell the existing product offering.