Browne Jacobson deal wins major award at Insider Northern Ireland Dealmakers
Browne Jacobson’s national private equity team is celebrating after one of its deals with Foresight Group LLP (Foresight) won the Private Equity/Venture Capital Deal of the Year at last night’s Insider Northern Ireland Dealmakers Awards 2022.
Browne Jacobson’s national private equity team is celebrating after one of its deals with leading independent private equity and infrastructure investment manager Foresight Group LLP (Foresight) won the Private Equity/Venture Capital Deal of the Year at last night’s Insider Northern Ireland Dealmakers Awards 2022.
The award winning transaction was Foresight’s exit from its Midlands Engine Investment Fund (MEIF) investment in third-party logistics and e-commerce fulfilment services provider Selazar Limited, and the subsequent investment in the business by a global private equity firm. The exit was MEIF’s first and generated a 3.4x return for the fund, managed by Foresight.
Judges were impressed by the deal and the “the ambition of a young Northern Irish entrepreneur who went from seed funding to multimillion-pound investment from a global asset manager”.
The deal was led by Browne Jacobson’s Midlands-based associate Matt Bolton, supported by Birmingham-based private equity partner Gareth Davies. Matt also advised Foresight on its MEIF initial and follow-on investments in Selazar in 2019 and 2020 respectively.
Matt Bolton commented: “We are delighted with yet another key award for our award-winning national private equity team. Congratulations to all involved in this significant transaction, in particular, our client Foresight Group and the excellent team at Selazar led by Jack Williams.
“The Insider Dealmakers Awards are without question one of the flagship events in the annual corporate calendar and it is always a tremendous achievement to be recognised in this way by our peers.”