Yorkshire and North East Dealmakers Guide 2016 - 9
DEAL SHOWCASE
In one transaction Fairstone Group has secured a £25m equity
investment into the business setting the company on a firm path
to accelerate its growth plans over the next few years.
Investment
in Fairstone
by Synova Capital
This transaction further establishes the
North East as a highly attractive region
for one of the UK's key industries,
financial services. Based in Boldon,
Fairstone is a highly scalable and
technology leveraged business.
Founded in 2008 Fairstone has grown
to encompass over 260 IFAs throughout
the UK offering tailored financial advice
to in excess of 25,000 private clients
with £5.8 billion of assets under advice.
The Company is also one of the
largest Chartered Financial Planning
firms in the UK .
Prior to the transaction, Cavu had
worked closely with Fairstone for more
than two years, recognising the
significant potential in the company
and the requirement for high quality
and innovative corporate finance advice
to achieve the company's and
shareholders' objectives.
Cavu introduced Fairstone to a
number of private equity firms including
Synova Capital who ultimately committed
an initial £25m of investment to Fairstone.
The transaction is the largest investment
ever made by Synova, and was also the
maiden investment from their newest
£250m fund. Synova's investment will
enable the continued acceleration of
Fairstone's consolidation strategy to
create the leading independent IFA
platform in the UK.
Shawn Bone, Corporate Finance Director
The transaction
is the largest
investment ever
made by Synova
The transaction was highly complex.
The company has a unique acquisition
model that needed careful presentation
to the market, a diverse shareholding
structure including a number of overseas
shareholders requiring a high level of
shareholder communication as the deal
progressed and a number of technical
matters driven by the regulated market
place in which Fairstone operates
including approval from the FCA for the
transaction to go ahead.
Nothwithstanding the deal challenges
there was significant interest from
the private equity community driven
by the opportunity to consolidate a
fragmented sector, a high calibre and
highly innovative management team
and a unique business model in which
T: 0191 255 7772
Downstream Buy Out target firms join
the Fairstone platform before being
acquired enabling buyer and sellers to
work together for a period before a full
acquisition takes place.
Commenting on Cavu, Lee Hartley
and CEO of Fairstone said "Cavu led the
deal for us from start to finish, sourcing
suitable investors and structuring the deal
to meet our deal objectives and we would
have no hesitation recommending them
to any other business looking to raise
private equity or development capital.
They were excellent and spent time
understanding our business and how
best to present the opportunity to
private equity investors to deliver the
optimum deal."
The Cavu Corporate Finance team
was led by Shawn Bone. Commenting
on the deal, "Fairstone has real
differentiation and attracted significant
interest from private equity investors
and we look forward to working with
Lee and his team on an ongoing basis."
E: Shawnbone@cavucf.com
W: www.cavucf.com
9
http://www.cavucf.com
http://www.cavucf.com
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