Vespa backs Feefo MBO

Financial details of the deal remain undisclosed, though Unquote sister publication Mergermarket recently reported the business could be valued at £30-40m.

Vespa drew capital for the deal from its second fund, which held a final close on £120m in January 2017 and typically invests in companies with enterprise value of £10-70m.

The transaction was led by the company's chief revenue officer, Matt West, who will take on the role of CEO. It provides an exit for co-founders Andrew Mabbutt and Matt Eames, as well as chairperson Nicholas Wheeler and other minority shareholders.

Under its new ownership model, Feefo will invest in the development of its data analytics and artificial intelligence capabilities.

Debt
Unquote understands that Silicon Valley Bank provided a senior debt package to support the transaction.

Company
Founded in 2010 and headquartered in Petersfield, Hampshire, Feefo is an online platform that enables customers to provide feedback and reviews on companies.

People
Vespa Capital – Nigel Hammond (managing partner).
Feefo – Matt West (CEO).

Advisers
Vendor – Stella EOC (corporate finance).
Management – Livingstone (corporate finance).

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• Topics
• Buyouts
• UK / Ireland
• Consumer
• United Kingdom
• Vespa Capital
• Livingstone
• Silicon Valley Bank (SVB)