FRP Corporate Finance advises on £25m Fresh Relevance sale
The deal was led by partner Mark Farlow, along with associate director Ed Shurville-Darlington and manager Nick Wright
FRP Corporate Finance has announced its team has advised management and private equity investment manager Foresight Group LLP on its sale of e-commerce personalisation platform, Fresh Relevance for £25m.
Headquartered in Southampton, Fresh Relevance is a SaaS-based personalisation and decision engine for online businesses and was co-founded in 2013.
Headquartered in London and established in 1999, Dotdigital is the leading SaaS provider of an all-in-one customer experience and data platform. FRP said the acquisition “accelerates Dotdigital’s CXDP roadmap, bringing highly complementary cross-channel personalisation and website technology together with technical expertise”.
Foresight’s exit to Dotdigital has generated a cash-on-cash return of 4.0x to Foresight-managed funds and follows the growth of the business since the original investment in 2017, with follow-on investment provided by Foresight in 2021.
The deal was led by partner Mark Farlow, along with associate director Ed Shurville-Darlington and manager Nick Wright. The team negotiated the transaction on behalf of the shareholders and managed the due diligence process ensuring an efficient closed process.
This transaction marks Foresight’s sixth successful exit in 2023, three of which were advised by FRP Corporate Finance including Fresh Relevance, GovGrant, and Camloc Motion Control.
Mark Farlow, partner at FRP Corporate Finance, said: “This transaction marks another exciting deal for FRP Corporate Finance in the eCommerce software space. It is the perfect tie-up of Fresh Relevance and Dot Digital, two businesses that have a long-standing relationship having been partners in the market for several years. It was a pleasure working with Management and Foresight on this sale.”
Tavia Sparks, Senior Investment Manager at Foresight, added: “The FRP Corporate Finance team of Mark, Ed and Nick worked tirelessly to drive the deal forward to complete within tight deadlines. Their advice was instrumental in delivering a great deal for all parties.”
