FRP Corporate Finance advises Foresight Group on its investment in Cambrionix
We’re pleased to have advised private equity and infrastructure investor Foresight Group on its multi-million pound equity investment into Cambrionix Limited, a designer of hardware and software solutions for the global mobile device management market.
FRP Corporate Finance, led by partner Chris Adlam, together with Tax director Matt Field and Joanne Price, an associate director in FRP’s Financial Advisory team, provided buy-side financial due diligence and tax advice to Foresight Group.
Founded in 2007, Cambridge-based Cambrionix develops hardware and software which enables organisations to deploy mobile devices at scale. The business provides industry-leading products, with a particular focus on the software quality assurance, education, healthcare, and retail sectors.
The product range includes bespoke USB hubs which allow customers to launch and configure, charge, update and monitor large numbers of mobile devices at the same time, with improved speed, flexibility and reliability.
Cambrionix has long-standing relationships with leading global technology companies and plays a key role in the current market trend towards shared mobile devices. An estimated five million devices worldwide are connected to Cambrionix hardware at any one time.
Foresight Group’s investment will support Cambrionix’s management team as they develop the strategy of enabling mass deployment of mobile devices. As part of the deal, Steve Leyland, who has held senior leadership roles at Intel, Polycom, Barco and Electrosonic, will join the board as executive chair, while Gordon Campbell, whose recent experience includes Ubisense and PragmatIC Printing, will join as CFO.
Commenting on the transaction, Chris Adlam, Partner at FRP Corporate Finance, said: “Cambrionix is an exciting and innovative business, which has developed an impressive range of internationally recognised products. With Foresight’s backing, the management team at Cambrionix now have the additional firepower to scale the business and build further on its existing strong position as a leading supplier to global blue-chip firms.
“We are thrilled to have advised Foresight on its investment into Cambrionix and wish them all the very best in the next stage of their growth journey.”
Matt McLoughlin, director of Foresight Group, said: “We are delighted to have completed this investment from the Foresight East of England Fund into Cambrionix, an exciting Cambridge-based company with great potential.
“Working with Jo Price and the rest of the FRP Corporate Finance team was a great experience and we really valued their advice throughout the transaction.”
Buying a business
With Foresight’s backing, the management team at Cambrionix now has the additional firepower to scale the business and build further on its existing strong position as a leading supplier to global blue-chip firms.Chris Adlam Corporate Finance