UK-based independent marketing group Selbey Anderson has secured a new £10m funding facility with investment manager Triple Point. The funding, provided by Triple Point’s Private Credit division, will enable Selbey Anderson to proceed with identifying and completing further acquisitions, as well as providing working capital to the group.
Established in 2018, Selbey Anderson has acquired 10 marketing agencies to date, ranging from PR and communications specialists to advertising and B2B marketing organisations. The group excels in providing back-office support and central services, enabling agencies to focus on what they do best.
Triple Point’s initial £5.5m funding tranche will facilitate the consolidation of debt and the refinancing of a bridging facility for the acquisition of B2B marketing agency Digital Radish, as well as providing capital for a second acquisition yet to be finalised. A further £4.5m uncommitted facility will be delivered once further acquisitions have been identified and progressed.
This facility marks a further addition to Triple Point’s leading lending portfolio, having provided business-critical funding to over 100,000 SMEs, as well as important public sector bodies in the UK. As non-bank lending becomes an increasingly successful model for businesses in need of financing, Triple Point’s relationship-driven partnerships and tailor-made lending solutions have led to widespread recognition. Most recently, Triple Point’s Direct Lending team was named No.3 in the Top 10 list of UK debt providers in MarketIQ M&A Review (Q1 2022).
Danny Muir, Relationship Director at Triple Point Direct Lending, said: “We are thrilled to have provided Selbey Anderson with new debt facilities to boost its future growth aspirations and provide working capital support. We are impressed with what Dom Hawes and the team have achieved in a relatively short period of time. The group offers a strong level of support, enabling their portfolio agencies to focus on continuing success and further growth. We are delighted to welcome Selbey Anderson to Triple Point’s growing portfolio of UK SMEs.”
Dom Hawes, CEO at Selbey Anderson, said: “We’ve built a high performing group from scratch in just three years, but we’ve only just begun. Our acquisitions are getting larger and our ambition is growing. We asked Saranac Partners to find us a long-term entrepreneurial finance partner and in Triple Point, I think we’ve found just that. Venture credit is a highly attractive funding mechanism for a business at our stage of evolution. It’s investor friendly, flexible and has enabled us to create generous share participation schemes for all of our colleagues. We’re now starting a search for an equity partner to work with our founding investors and Triple Point to build out over the next five years.”
