Financials

finnCap is pleased to announce it has acted as buy-side adviser to Baird Capital on a growth capital investment from its Global Private Equity team, into Freemarket. The investment supports Freemarket’s continuing fast growth and international expansion, as well as providing a partial cash-out to existing shareholders.

Founded in 2011, Freemarket provides its customers with reliable and efficient B2B cross-border payments through its proprietary technology platform.  Freemarket’s global banking network and innovative technology platform enables customers to send payments/funds efficiently to over 100 countries in 140 currencies, removing cross-border payments complexities, improving transparency and increasing efficiency.

This deal underscores finnCap’s experience in the payments and fintech sector and was delivered by a multi-product team covering private markets M&A and public markets insight.

Ben Goldring, Head of Financial Services at finnCap, commented:

“We are delighted to have supported Baird Capital on this transaction, which will provide Freemarket with the ability to accelerate its growth trajectory. The regulated cross-border payments vertical is fast-growing and I expect there to be continued investment in the sector. I look forward to seeing Freemarket’s continued success in partnership with Baird Capital.”

finnCap Capital Markets is delighted to have raised £10m for longstanding client Frenkel Topping Group, a specialist professional and financial services firm operating in the Personal Injury and Clinical Negligence space. The addition of two new sizeable institutional investors in current market conditions alongside continuing support from the Company’s existing shareholder base demonstrates our focus on providing outstanding client service.

finnCap Cavendish advises shareholder group on majority stake sale in London & Capital to Lovell Minnick

•             finnCap Cavendish provided advisory services to the Freedman family, shareholders in London & Capital, on their majority stake sale to Lovell Minnick

•             London & Capital is one of the UK’s leading independent wealth managers, focused on US family office, private investment office and institutional clients

•             Sold to Lovell Minnick, a US-based private equity firm focused on financial services, financial technology and related business services

finnCap Cavendish, part of finnCap Group plc, is pleased to announce it has advised the Freedman family shareholders in the majority sale of their stake in London & Capital Group Limited, one of the UK’s leading independent wealth managers, to Lovell Minnick Partners, the US-based private equity firm focused on investments in financial services, financial technology and related business services.

As part of the transaction, London & Capital’s management team will continue to run the business and retain a significant minority stake.

Founded in 1986, London & Capital has three specialist franchises focused on US family office, private investment office and institutional clients. The business has a differentiated and highly scalable investment process, deployed across all three franchises, and coordinated by a 12-strong investment desk.

The investment with Lovell Minnick will enable the business to expand its client solutions, grow internationally, invest in technology and bring on new teams. 

The deal was led by Lord Leigh of Hurley, Senior Partner and Ben Goldring, Head of Financial Services.

Elaine Freedman, shareholder of London & Capital, commented:

“We are delighted to have achieved this result for the business that Daniel Freedman co-founded and found such a strong partner in the form of Lovell Minnick for the next stage of its growth. Howard and Ben were an excellent support throughout this process, and provided us with first class advice and guidance throughout.”

Guy McGlashan, Chief Executive Officer of London & Capital, commented:

“We chose to partner with LMP because of the firm’s excellent track record of working with management teams to scale and enhance wealth and asset management firms. Their deep experience in the space and our sense of shared values and culture align with our focus on providing an exceptional service and experience for our clients.”

Ben Goldring, Head of Financial Services at finnCap Cavendish, commented:

“It has been a pleasure advising the Freedman family and working with the management team on this landmark transaction. 2022 has already seen several major acquisitions in the wealth management space and the long-term market dynamics remain highly compelling with strong forecast growth of both the number of global HNWI and onshore wealth segments over the next few years. I look forward to seeing London & Capital flourish in their new partnership with Lovell Minnick.”