Bowmark Capital invests in Focus Group

As part of the transaction, additional debt financing of around £150m was made available by BlackRock to accelerate the company's acquisition plan.

To finance this deal, Bowmark deployed capital from its flagship vehicle Bowmark Capital Partners VI, closed on £600m in January 2019. The vehicle targets UK mid-market companies with enterprise values of up to £200m.

Bowmark VI primarily makes majority investments, though its remit also includes minority positions. It will make 10 deals overall and typical equity cheques are in the region of £50-70m.

Company
Founded in 2004 and based in Shoreham-by-Sea, Focus provides a range of integrated technology solutions, including hosted voice, cloud applications, mobile, connectivity and IT services. Its customer base is composed of 15,000 businesses.

The company generates revenues of £80m and employs approximately 300 staff.

People
Bowmark Capital – Stephen Delaney (partner).
Focus Group – Ralph Gilbert, Chris Goodman (co-founders).

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