Blake Morgan advise on primary capital raise of up to £100m from private equity
Blake Morgan has advised on a private equity deal for Foster Denovo Group Limited enabling the financial advice firm to fuel its next stage of growth.
US private equity firm Crestline Investors, Inc has agreed to invest up to £100m into Foster Denovo.
A large team from the leading law firm, led by Corporate Partner Stojan Essex, advised Foster Denovo. The team included Tim Coles and Francesca Bird (both Corporate), Cathy Bryant (Tax & Share Incentives), Felicity Rowan and Richard Humphreys (both Regulatory), Madeleine Mould (Employment), Matthew Bell (Property), Richard Rogers (Banking & Finance) and Sarah Carter (Company Secretary).
Stojan Essex said:
We are delighted to have advised on this deal, which is excellent for our client. The investment allows Foster Denovo to continue their expansion plans. They should continue to go from strength-to-strength.
He added: “I want to thank everyone involved from a Blake Morgan point-of-view, their dedication to the client is exceptional. This shows what an excellent range of expertise we have to be able to advise on such a wide range of matters.”
Foster Denovo have already utilised a portion of the investment towards the internal acquisitions of self-employed advice firms and are looking to make further acquisitions. Chief Executive, Roger Brosch commented: “Profitability has tripled pretty much overnight. We would certainly hope to be active [in the acquisition space] this year.”
This deal was reported by the Financial Times on 5 April 2022.
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