Bowmark backs Cornwall Insight buyout

Outgoing investor BGF backed the business in 2017 with a minority stake investment alongside a term loan facility from Barclays, according to reports at the time. The sponsor supported the development of the management team, operations and strategy during its tenure, according to a press release.

Cornwall Insight recently launched operations in Australia and Ireland. The company has delivered annual revenue growth of over 20% underpinned by a growing customer base and the development of products and services in new areas of the energy market like the battery storage sector, according to the press release.

With the support of Bowmark, Cornwall Insight will aim to support the company as it helps its customers navigate the global transition to net zero.

Bowmark is deploying equity via Bowmark Capital Partners VI, which held a final close in January 2019 on GBP 600m. The vehicle targets mid-market UK-based companies with enterprise value of up to GBP 200m, with a particular interest in technology-enabled B2B company, according to Unquote Data.

Company
Headquartered in Norwich and founded in 2005, Cornwall Insight provides research, consultancy, training and analysis across the energy sector. The company’s services enable its clients to understand policy changes and ensure they are compliant with regulations as well as supporting them to enhance their investment strategies. It has over 4,000 customers which include governments, corporates, suppliers and brokers, to list a few. The company employs 115 staff.

People
BGF – Matthew Simcox (investor).
Bowmark Capital – Roy Mani (partner).
Cornwall Insight – Gareth Miller (CEO).

Advisers
Vendor – PwC (financial due diligence); CMS (legal).

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• Topics
• Exits
• Buyouts
• UK / Ireland
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• United Kingdom
• BGF (Business Growth Fund)
• Bowmark Capital LLP