October 2021
| Client | Multithread Consultants / Merino Private Equity |
| Sector | Technology |
| Facility | Commercial Loan |
| Funding Need | MBO |
| Value | £2m |
| Team | Corporate Lending |
| Region | East of England |
A Suffolk technology consultancy and distributor has been acquired by Merino Private Equity, after growing revenues by 30% during the pandemic, with support from Shawbrook Bank.
Multithread Consultants’ management now aim to drive further growth following the management buyout (MBO) with investment from Merino Private Equity.
The company provides consultancy for, and distribution of, wireless networking products. Its strong team includes software designers and developers, with network and wireless specialist advisers.
Nick Shore has been appointed Managing Director after 20 years within Multithread Consultants, most recently as Chief Technology Officer.
New standards of connectivity mean businesses can enhance their IT network infrastructure with wireless solutions.
Nick added: "This creates an opportunity for us and our installer partners to work with organisations and help them facilitate the new hybrid ways of working that have emerged in the last two years, and to build on the success we’ve already had helping organisations to adapt their infrastructure to meet new requirements.
The addition of Merino will help us as we target growth from these opportunities. And the quick decision making of Shawbrook Bank ensured a swift completion of this deal, helping us to focus on growing the business with the support of our new owners."
Oliver Sutton, director at Shawbrook Bank, said:
“The case to back this change of ownership was exceptionally strong. The longstanding expertise of Nick and his team positions the business well for tapping into a booming market buoyed by changing working patterns and new technologies.
“We’re also well aware of Merino’s track record of supporting its portfolio companies to scale-up their operations from past deals we’ve supported them with.
“We worked closely with the Multithread Consultants team to understand its business model and working capital cycle, ensuring that we provided the new owners with a finance package with terms that will help to enable its growth.”
Jack Kinnersley, investment director at Merino Private Equity LLP, said:
“We are thrilled to have completed the MBO of Multithread Consultants, and particularly to partner with Nick and the wider team. The business has built a great reputation off the back of high service levels and a compelling product range. Shawbrook Bank has been a valued partner throughout this deal, which is made possible thanks to its team’s fast and considered approach to funding.”
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