Foresight sells DA Languages to IK Partners in SBO

IK is investing through its IK Small Cap III Fund. Financials were not disclosed.

Foresight, a UK-based private investment firm, invested in DAL via its Regional Investment Fund in May 2018. The fund held a final close on GBP 58m in 2016 and targeted SMEs in the north-west of England, South Yorkshire and North-East Wales. The investment vehicle sought to invest up to GBP 5m in equity per deal.

According to Unquote Data, DA Languages received a GBP 3m investment from Foresight, and managing director Actar Arya retained a significant stake while remaining in her role.

Mergermarket reported in February 2021 that DA Languages saw a turnover increase of 28% to GBP 9.6m and expected a further 35% increase in the current financial year.

IK Small Cap III Fund held a final close in April 2021 on EUR 1.2bn. The vehicle looks for buyout opportunity in small enterprises across DACH, the Nordic region, France and Benelux. The GP said the fund would aim to build a portfolio of 15-20 companies with enterprise values of EUR 50m-150m.

Last year, IK – which is headquartered in London but with a historic focus on the Nordic countries – expanded its UK operations to include a local small-cap deals team headed by partner Tom Salmon, as reported. It is now looking to set up a dedicated mid-cap team in the country as well.

Company
DA Languages was founded in 1998 by CEO Actar Arya in Manchester. It provides translation and interpretation services to charities, NHS trusts, corporate clients and city councils. It works with 8,000 interpreters and translators, covering more than 450 languages.

People
DA Languages – Actar Arya (CEO); Matthew Taylor (managing director).
IK Partners – Tom Salmon (partner).
Foresight Group – Claire Alvarez (partner).

Advisers
Equity – Kirkland & Ellis (legal).

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• Topics
• Buyouts
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• UK / Ireland
• IK Investment Partners
• Foresight Group
• Secondary buyout