Fast-growth marketing services group Selbey Anderson has closed a £10m funding round to continue its aggressive UK expansion. The investment was made by leading invstment manager, Triple Point's Private Credit division. The funds enable Selbey Anderson to complete further acquisitions, and provides additional working capital to the group.
Triple Point’s initial £5.5m funding tranche facilitates debt consolidation and refinancing a bridging facility set up to acquire Digital Radish. It also provides capital for a second acquisition, which is being finalised. An additional £4.5m uncommitted facility will be delivered once further acquisitions have been presented.
High performing marketing services group
Commenting on the fundraise, Selbey Anderson’s CEO, Dom Hawes, 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.”
Ten acquisitions to date... and counting
Established in 2018, Selbey Anderson has acquired ten marketing services agencies to date. Its portfolio ranges from PR and communications specialists to advertising and B2B marketing specialists. The group excels in providing a platform for inter-agency collaboration and growth.
Triple Point was chosen as the financing partner for Selbey Anderson due to its swift, personalised approach and proven track record of helping businesses achieve rapid and sustainable growth.
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.”
Selbey Anderson will be deploying the capital over 2022 with four acquisitions already identified and in progress. The first will be completed shortly and will be announced in June.