Advising on WestBridge-backed MBO of Smart Capital Technology

Our client, private equity firm WestBridge, has invested £17m to support the MBO of Thames Valley based, Smart Capital Technology (SCT).

Capital Law’s corporate team (Tom Kelleher, Gareth Williams-Davies, Chloe Walsh and Hakeem Din) with support from the Banking team (Reshma Jogia, Chris Lewis and Mike Bolous) advised the WestBridge team (Ed Minton, Rory Whitrow, Valerie Kendall and James Wakefield) on the deal, which follows WestBridge’s recent exit of bChannels.

The MBO, led by CEO Andy Morgan with support from the wider management team, facilitates a partial exit for the founding directors, who will retain a small shareholding in the business.

The team will be augmented with the appointment of non-executive chairman Richard Cottrell, who brings extensive sector experience and will provide invaluable guidance and support in delivering SCT’s strategic objectives.

Ed Minton, Senior Investment Manager at WestBridge, said:

As ever we are thankful for Capital’s excellent advice on this deal. Their calm and pragmatic approach, combined with their thorough understanding of each element of the transaction, was key to helping us complete the MBO smoothly and efficiently. SCT is now ideally positioned for further growth, and we look forward to seeing the company achieve its ambitious vision.

Tom Kelleher, Partner in Capital Law’s corporate team, said:

In what remains an extremely competitive and difficult market, WestBridge’s track record of success continues to make them an attractive partner for management teams and this is the 8th investment from WestBridge’s 2nd, £140m fund.

SCT is a strong business led by impressive people, and by partnering with the WestBridge team, they will be able to significantly increase their offering, customer base, and geographical reach. We wish them all the best in this new chapter of their development journey.

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