Bowmark backs buyout of The Instant Group from MML

Oscar Geen
11 June 2018

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Bowmark Capital has acquired office procurement and management company The Instant Group from MML Capital Partners and the company's management.

Both MML and the management team reinvested in the new holding company. Bowmark secured a majority stake.

During MML's investment period, the company increased its revenues from £22m for 2012 to £69.1m for 2017. The business reported an operating loss of £771,000 for the last financial year, but also an operating profit before amortisation and exceptional items of £3.7m.

Instant Group CEO Tim Rodber said the fresh capital would allow the group to maintain its independence and expand internationally.

Previous funding
MML acquired a minority stake in Instant for £15m in January 2013. Bal Johal and Luke Jones led the deal for MML and both joined Instant's board.

Company
Instant was founded in 1999 and is headquartered in London. It provides office procurement and management services for its clients, which include 75% of the FTSE 100, according to its website. The company employs 250 people in 11 cities globally and generated revenues of £69.1m in 2017.

People
Bowmark Capital – Charles Ind (managing partner).
MML Capital Partners – Luke Jones (partner).
The Instant Group – Tim Rodber (CEO).