MHA | Unseen Group secures fresh private equity backing and Maven…

Unseen Group secures fresh private equity backing and Maven exit in MHA-led deal

June 21st 2024

A Manchester based software company has received a multi-million-pound investment from a London-based private equity firm in a deal originated and advised on by MHA’s corporate finance and tax teams.

Unseen Group, trading as GradTouch, provides software including job advertising platforms to help graduate employers find and engage with potential staff. The firm has received equity investment from London-based Pelican Capital, along with a multi-million-pound acquisition facility from ThinCats.

The funds will allow Unseen to accelerate organic growth by developing its product portfolio, expand its operations as well as pursuing acquisitions in the early careers sector.

MHA acted as lead corporate finance and tax adviser to Unseen Group. The corporate finance team was led by Andrew Feeke, supported by Robert Holgate and Sam Singleton, with the tax team led by Colin Abrahams, supported by Hasan Hashmi.

It follows MHA’s support for Unseen in its acquisition of Topscore in 2023.

Andrew Feeke, head of corporate finance, MHA said: 

“Unseen Group is a fast-growing business in a fragmented and rapidly developing sector. This major investment will allow Unseen to accelerate its growth plans and enable Maven Capital / Northern Powerhouse Investment Fund to exit the business after initially investing in 2017.

This deal highlights the MHA corporate finance team’s expertise in supporting companies like Unseen to secure the right investment throughout different stages of their growth journey alongside creating successful exit opportunities for financial investors.”

Zac Williams, chief executive of Unseen Group, said: 

"This is a monumental moment for Unseen, a testament to our team’s unwavering dedication and the exceptional results we’ve achieved for employers, universities, and early talent candidates globally. Our vision has always been bold, and Pelican Capital’s investment empowers us to swiftly put that vision into action, offering a more comprehensive and innovative suite of services to our trusted customers and partners."

Elliot Vickerstaff, investment manager at Pelican Capital, said: 

"We are thrilled to support Zac and his team in building on their impressive achievements. With our investment, they are poised to create a market-leading platform in the early careers sector through a well-executed strategic buy-and-build approach."

Pelican’s investment was led by Richard Morrison and Elliot Vickerstaff, with advisory services provided by K&L Gates (Legal), Altenburg Advisory LLP (Debt), HMT LLP (Financial and Tax), PwC (Corporate Finance), Claritas Tax (Structuring), and Alembic Strategy (Management). Debt provided by ThinCats.

Legal advisory services were provided to Unseen by Glaisyers and to Maven by RW Blears.

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