finnCap Group is proud to announce that it has helped advise on a successful first major fundraise for CYJAX, an award-winning, London-based SaaS provider of threat intelligence solutions for enterprise and public sector organisations.

The funding will be strategically allocated to fuel key initiatives across R&D (primarily to accelerate its AI product development roadmap) and to strengthen its workforce across its engineering, sales, and marketing functions.

Since its inception, CYJAX has achieved notable milestones, winning both industry and peer awards, including becoming the first small business in history in the UK to provide services directly to national policing. With this successful funding round, the company is poised to accelerate its growth trajectory and solidify its position in the cyber security marketplace.

Advisers to CYJAX from finnCap Cavendish were Anthony Platt (Partner and Co-head of Technology) and Soben Durai (Senior Associate).

Anthony Platt, Partner and Co-head of Technology at finnCap Cavendish, commented:

“We are delighted to have worked with Kevin and the CYJAX team in their fundraising. CYJAX’s expertise in cybersecurity threat intelligence and impressive client base will be further strengthened with the investment. The funds will be used to expand their team and develop AI capabilities, setting the stage for continued growth.”

finnCap Cavendish, part of finnCap Group plc, is pleased to announce it has advised Inflexion, a leading mid-market private equity firm on its investment into TC Group, a provider of accountancy and taxation services to UK SMEs. The investment is being made from Enterprise Fund V, Inflexion’s dedicated lower mid-market fund.

TC Group is an Accountancy Age ‘Top 30’ firm and provides bespoke, high-quality accounting, bookkeeping, tax, audit and payroll services. It operates through 29 local offices throughout the UK with over 500 employees servicing almost 15,000 customers, and has a successful track record of M&A and profitability. TC focuses on enabling partners to retain their autonomy and grow their income whilst providing industry leading infrastructure and support.

TC Group has a strong track record of organic growth and through acquisition, with 28 completed to date and a strong pipeline of further opportunities. Inflexion brings significant buy and build experience, having completed over 440 throughout its near 25-year history. Inflexion will support the business as it continues its strategy to consolidate the fragmented market.

Advisers to Inflexion from finnCap Cavendish were Andrew Jeffs (Partner), Leigh Webb (Head of PE Sponsor Coverage & Elliott Jeans (Associate Director).

Andrew commented:

“We are delighted to have advised Inflexion on its investment into TC Group.  It is a deal that highlights the continued appetite of private equity to invest in the professional services sector especially firms with differentiated models like TC has. Congratulations to Malcolm, his team and all involved on the successful investment.”

“This deal evidences the focus and capability finnCap Cavendish has on the professional services and wider business services sector. It also marks another notable buyside credential for the firm”.

finnCap Cavendish, part of finnCap Group plc, is pleased to announce it has advised on the sale of five sites of John Nicholls Trading Ltd, the Midlands-based independent builders’ and plumbing merchants, to MKM Buildings Supplies, the UK’s leading independent builders’ merchant.

Founded in 1965 by late chairman John Nicholls, the group has grown significantly over the years from one branch in Banbury to over 25 sites covering Oxfordshire, Warwickshire, Northamptonshire, and Dorset. The business offers a wide range of building and plumbing materials and kitchen and bathroom suites and accessories. In 2014, it acquired J&B's Plumbing & Heating based on the South Coast, adding an additional 8 Plumbing & Heating branches and 5 Bathroom Showrooms.

MKM has acquired builders’ merchants branches in Banbury, Bicester, Kidlington and Rugby together with a distribution centre at Long Hanborough, adding to its 100-plus network.

This transaction also marks the retirement of Philip Nicholls (Director) and David Hebdon (CEO), with Andrew Nicholls (Executive Chairman) leading a management buy-out of the remaining branches alongside four Directors, encompassing the company’s plumbing and heating division.

Advisers to John Nicholls Trading from finnCap Cavendish were Peter Gray (Partner), Mike Dinsdale (Director) & Daniel Dwyer (Associate).

Mike Dinsdale, Director at finnCap Cavendish, said:

“We are delighted to have advised the Shareholders on this deal. In a rapidly consolidating sector, this transaction sees MKM continue its regional expansion strategy, acquiring five Nicholls builders’ merchant branches in fantastic locations that are known for providing excellent service to customers in the local community.”

finnCap Cavendish, part of finnCap Group plc, is pleased to announce it has advised on the sale of UK Storage Company Ltd to an investor syndicate consisting of funds advised by Davidson Kempner Capital Management LP (“Davidson Kempner”) and Pithos Capital, a European self-storage operator (the “Syndicate”). Founded in 2005, UK Storage Company Ltd is the UK’s largest independent self-storage provider, with a portfolio of 28 well-invested sites. The business holds a strong position across the UK’s highly resilient self-storage sector, characterised by repeat revenues and excellent growth dynamics. Its real estate portfolio includes both leasehold and freehold properties that consist of 11,000 storage units, translating to around 900,000 square foot of built rentable space. The sale completed on 9 June 2023.

Originally focused in the South West of England, the business has expanded its geographic presence through a carefully considered site selection process, with facilities spanning from Redruth to Leeds and employs approximately 40 staff. The sale provides an attractive opportunity for the Syndicate to invest in and grow the platform across the UK over the coming years.

UK Storage Company Ltd was equally owned by Keith Taylor and Cathy Taylor, who together have developed it into the largest independent operator in the UK.

The lead adviser on the sale was Peter Gray, Partner and Nehal Patel, Director from finnCap Cavendish.

Peter Gray and Nehal Patel at finnCap Cavendish, commented:

“We are very proud to have advised on this deal, further cementing finnCap Cavendish’s expertise in the business services’ space. This transaction is particularly significant given the Company’s scale in the UK, history of strong financial performance and as well as its huge growth potential.”

“We are pleased that the deal continues to enhance the reputation and credibility of finnCap Cavendish, whilst building on its strengths and increasing the firm’s visibility in the self-storage market. Congratulations to Keith, Cathy and all involved on a successful deal.”

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 Group is delighted to announce it has advised the train travel platform, Seatfrog, on raising £6m from Pembroke VCT, Octopus Ventures and Praetura Ventures.

The latest funding round will allow the travel innovator to embark on a new recruitment drive and meet the demands from operators across Europe, accelerating the next wave of its platform as it bids to become the preeminent pan-European choice for rail.

The deal is a key example of the strength of finnCap’s leading cross-sector offering, using both its consumer and technology expertise to advise on the funding for this technology driven consumer product. Successfully securing funding for a rail travel technology business during a time of train strikes and the cost-of-living crisis also demonstrates finnCap’s ability to deliver deals in challenging markets.

Seatfrog is on a mission to reinvent the experience of catching a train for millions of European passengers and the operators that carry them. Launched in 2018 to initially combat the 570+ million first-class seats that travel empty each year, Seatfrog has become the go-to choice for over one million passengers to get the best journey for their money.

Seatfrog has already saved consumers more than £43m across 3,400+ destinations with its smarter technology that helps operators run more profitable networks, increasing new revenue by over 300%. To date, it has secured exclusive partnerships with sixteen major train operators covering over 3bn journeys across the UK and Europe, with Italian operator Trenitalia the latest to put its faith in Seatfrog to deliver a better journey for its 500 million passengers.

Zuleika Salter, Head of Private Growth Capital of finnCap, commented: “Seatfrog is genius for completely transforming the process and experience of purchasing, amending or upgrading a train ticket. Their proprietary technology not only makes life cheaper, simpler and enjoyable for the train traveller, it is a no-brainer for operators too, driving additional revenue whilst greatly reducing the administrative time and expense of providing accessible customer choice. It is a joy to work with the very talented founders, Iain and Dirk, who have co-created this industry-changing solution.”

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.