Press releases | 23 Feb 2015

Travers Smith advises Bridgepoint Development Capital on 40% stake in MVF

Overview

A Travers Smith team led by private equity partner Helen Croke has advised Bridgepoint Development Capital on its investment in MVF, a UK technology company which specialises in online customer acquisition and lead generation.

Founded only five years ago, MVF is already one of the UK's most prominent technology companies winning a Queen's Award for Enterprise in 2014. The company was also branded the fastest growing tech company in the UK in 2013 by the Sunday Times Tech Track and was voted in the top twenty places to work for in London by the Sunday Times Best Companies to Work For poll.

The Travers Smith's team led by Helen Croke comprised corporate associates Tom Hartwright and Gemma Phillips, finance partner Matt Ayre and finance associate Jamie Parish and tax partner Simon Skinner and tax associate Andrew Callaghan.

Other advisers involved in the transaction included Squire Patton Boggs (legal) and Cavendish (corporate finance), who advised MVF, and GP Bullhound (corporate finance), E&Y (financial due diligence), CIL (commercial due diligence) and Intuitus (IT due diligence) who advised Bridgepoint. Finance for the transaction was provided by HSBC.

Bridgepoint Capital Development has a strong track record of investing in the technology sector. In June 2014 it exited its investment in Pulsant, the provider of IT infrastructure services to medium sized businesses in the UK, with a  sale to Oak Hill Capital Partners generating a money multiple of 3.1x on this transaction.  Travers Smith's private equity team advised Bridgepoint on the sale.