Hertfordshire-based Sales Transformation and Enablement consultancy Mentor Group Limited (Mentor) has secured a £2million investment from Frontier Development Capital (FDC) to support a management buyout (MBO).
The investment from FDC Debt LP is part of a multi-million-pound deal to support the MBO of Mentor by its management team consisting of Matt Webb (CEO), James Barton (CSO), Jack Smith (CFO) and Jane Hall (NED).
Mentor has over 20 years of track record developing bespoke consultancy, training and coaching programmes to support client-led sales enablement initiatives via a network of skilled and trusted global consultants. In addition, it has invested in building its’ learning experience technology platform, Kairos, which enhances the customer experience through various innovative features. Mentor has performed well in recent years as Sales organisations increasingly recognise the need to transform their sales approach to rapidly evolving markets.
Matt Webb, CEO of Mentor, said:
“Mentor has had continuous growth over the past few years, and we believe this is an exciting opportunity to continue building on the success of the original founders. This MBO will unlock considerable potential for the business, allowing us to improve Sales Transformation and Enablement, putting Mentor at the forefront of the industry.
“Frontier Development Capital has supported us through the process, and this investment will support our vision for the future development of Mentor. This has helped our plan to drive new products to meet our customers’ needs, which will help the business reach its full potential.
“The management team would like to thank the original founders, who’s hard work, commitment, and passion have enabled us to take the baton of a very healthy business.”
Kathryn Hoverd, Investment Manager at Frontier Development Capital, said:
“At FDC, we are dedicated to supporting businesses across the UK with flexible funding capital. The MBO of Mentor Group is an excellent example of how our funds can support businesses' growth plans.
“Mentor Group prides itself on delivering high-quality, innovative content with measurable outcomes. This investment will ensure that the management team at Mentor can push their business further with their long-standing knowledge of the sector while continuing to meet the needs of their customers. We have enjoyed working with Matt and his team and look forward to partnering with them on the next stage of Mentor’s development”.
Frontier Development Capital supports mid-market SME businesses across the country with debt funding between £1million and £7.5million.
Steve Bartlett, Partner at Transcend Corporate said:
“I am delighted to have been able to advise the Mentor team and help bring this deal to a successful conclusion. FDC is a great partner for the team and we are delighted to have worked with them on this deal. Mentor is an outstanding business, providing sales training and development solutions to a wide range of enterprise clients. I am excited for the team as they transition into being business owners and for the opportunity they now have as they take the business forward. I wish them every success for the future.”
Advisors on the deal were:
Management: Corporate Finance - Transcend Corporate (Steve Bartlett and Harvey Thiara); Legal – Westbrook Advisors (Andrew Sandars); Harrison Clark Rickerbys (Victoria Dingleton)
FDC: Legal – Penningtons (Andy Rushfirth, John Chater, Richard Wrigley); FDD – Azets (Paul Tallon)
Vendors: Legal – FSP (Penny Garden, Jeremy Parkes and Alex Illingworth)