Key Takeaways
- • Freshstream Investment Partners LLP has backed Portman Finance Group, a Northampton-based finance distribution platform, to support its next phase of growth.
- • Portman was founded in 2007 by chief executive Alex Read and connects UK SMEs with funding through a panel of more than 45 lending partners plus its own lending activities.
- • Read and the wider management team retain a majority ownership stake in the group, with Freshstream investing alongside them.
- • Portman is the tenth investment from Freshstream's first independent fund, which closed in 2023 having raised EUR 762m.
- • Advisers named in the deal include Stephens and Travers Smith for Portman and its shareholders, and Moelis & Company, Clearwater International and Willkie Farr & Gallagher for Freshstream.
Summary
Freshstream Investment Partners LLP has secured a stake in Portman Finance Group, an East Midlands-headquartered finance distribution platform based in Northampton, to support its next stage of growth, according to the publisher's report via Insider Media Ltd. The transaction is structured as a partnership with the existing management team, with chief executive Alex Read and his colleagues continuing to lead the business and retaining majority ownership of the group.
Founded in 2007, Portman has built a scaled platform serving businesses across the UK. The company connects small and medium-sized enterprises with a range of funding options through a panel of more than 45 lending partners, and also conducts its own lending activities. Freshstream said it draws on its experience backing entrepreneur-led businesses and helping them scale over the long term.
Read said Freshstream shares the company's ambition and brings the experience needed to build on recent momentum, pointing to a significant opportunity to expand reach, support more SMEs and continue developing one of the UK's leading commercial finance platforms. Tom Carroll, partner at Freshstream, described Alex and the team as having built a highly impressive and fast-growing business, adding that the quality of the management team and their entrepreneurial spirit stood out from the outset.
Portman becomes the tenth investment from Freshstream's first independent fund, which closed in 2023 having raised EUR 762m. The business joins a portfolio of entrepreneur-led growth companies across Europe that includes Bella Figura Music, Detertech, G2V Group, MCR, My Jewellery, Project Better Energy and Worldstream.
Portman and its shareholders were advised by Stephens and Travers Smith. Freshstream was advised by Moelis & Company, Clearwater International and Willkie Farr & Gallagher. The article does not disclose the size of the investment or the valuation.
Founded in 2007, Portman has built a scaled platform serving businesses across the UK. The company connects small and medium-sized enterprises with a range of funding options through a panel of more than 45 lending partners, and also conducts its own lending activities. Freshstream said it draws on its experience backing entrepreneur-led businesses and helping them scale over the long term.
Read said Freshstream shares the company's ambition and brings the experience needed to build on recent momentum, pointing to a significant opportunity to expand reach, support more SMEs and continue developing one of the UK's leading commercial finance platforms. Tom Carroll, partner at Freshstream, described Alex and the team as having built a highly impressive and fast-growing business, adding that the quality of the management team and their entrepreneurial spirit stood out from the outset.
Portman becomes the tenth investment from Freshstream's first independent fund, which closed in 2023 having raised EUR 762m. The business joins a portfolio of entrepreneur-led growth companies across Europe that includes Bella Figura Music, Detertech, G2V Group, MCR, My Jewellery, Project Better Energy and Worldstream.
Portman and its shareholders were advised by Stephens and Travers Smith. Freshstream was advised by Moelis & Company, Clearwater International and Willkie Farr & Gallagher. The article does not disclose the size of the investment or the valuation.
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