0370 270 6000

Browne Jacobson advises Foresight Group on investment in AI and machine learning SaaS and Services provider TMAC

11 November 2021

Browne Jacobson’s national private equity team has advised leading independent private equity and infrastructure investment manager Foresight Group LLP (Foresight) on its investment in artificial intelligence and machine learning SaaS provider The Modular Analytics Company Limited (TMAC), funded by the Midlands Engine Investment Fund (MEIF). The investment forms part of an aggregate c.£1.5m million round, with co-investment provided by the Greater Manchester Combined Authority (GMCA).

TMAC was founded in 2018 by Jimmy Hosang and Sean Northam with a vision to change the way data science is understood and applied. TMAC’s contact centre solutions software helps operators make better decisions faster, improving customer experiences, and generating, accelerating and modulating results to deliver value quickly. The business works with a diverse client base made up of blue chip and FTSE 100 clients that cut across the retail, banking, financial services and media sectors.

MEIF is an initiative supported by the European Regional Development Fund and forms a key part of the UK Government’s strategy to support the region’s economic growth through strategic investment in SMEs.

The Browne Jacobson team was led by associate Matt Bolton, who recently advised Foresight on its exit from e-commerce fulfilment specialist Selazar. Matt was assisted by associate Bethany Pickup and they were supported by Browne Jacobson private equity partner, Gareth Davies.

Jordan Lavender, Investment Manager leading the transaction for Foresight Group, commented: “We are delighted to be supporting TMAC on its next stage of growth. With digital transformation projects becoming more widespread in organisations, TMAC is well placed to take advantage of this flourishing market. We’d like to thank the Browne Jacobson private equity team which again delivered both excellent service and high-quality advice.”

Matt Bolton, associate at Browne Jacobson, added:

“We’re delighted to have supported Foresight on its investment in TMAC – an exciting business with a strong management team which is already starting to gain real traction in its market. We wish them every success as they press ahead with their scaling and growth plans”.

Focus on...

Blogs

Compliance - small businesses and new regulation

The Federation of Small Businesses (FSB) has released a report setting out the impact of new and changing regulations arising from the pandemic on small businesses across the UK.

View

Press releases

Browne Jacobson advises London based insurance disrupter Laka on further venture capital investment

Browne Jacobson’s corporate tech lawyers have advised specialist bicycle insurer Laka on an investment from Porsche Ventures (a venture capital division of Porsche AG), bringing its series A investment round to a total of $13.5m.

View

Press releases

Browne Jacobson’s dealmakers advise on major property consultancy merger

Browne Jacobson’s corporate dealmakers have advised leading property consultancy, Fisher German, on its merger with property consultants Matthews & Goodman in a move that will see the joint businesses now approach a turnover of almost £60m.

View

Press releases

Browne Jacobson dealmakers advise LDC on significant investment in global advertising partner

Browne Jacobson have successfully advised leading mid-market private equity firm LDC on its investment into global programmatic advertising company, Blis. The transaction will support Blis’ international growth strategy.

View