Knight marketed Bluebay on a twin-track process to a pre-qualified group of trade and institutional investors that had the motivation and resources to enable the existing team to further develop the growth of the business.
After significant R&D, Blue Bay had shifted from lead generation to a full online transaction model which resulted in organic growth of over 50% year on year. Knight’s role was to ensure that the valuation reflected the inherent value in Blue Bay’s unique IP and rapid growth.
Knight worked with management to develop a detailed forecast and business plan together with an information memorandum highlighting the opportunity for an investor / acquirer.
Knight ran a highly competitive marketing process and following significant interest from investors and trade buyers (both overseas and UK headquartered). Knight kept the transaction on track despite some significant challenges including Brexit and a rapid devaluation in GBP. Two preferred parties were taken forward to a final round and following detailed negotiations LDC were chosen due to their experience in the sector and deliverability of the deal on a valuation that exceeded shareholders aspirations .
Sam Davies led the transaction, supported by Laura Cockburn. They were able to draw on their experience of both having worked as private equity investors and advisers. This enabled them to advise Blue Bay on how to get not only the best commercial deal but also a legal structure that suited all parties and would not inhibit the future growth potential of the business