Key Takeaways
- • Freshstream Investment Partners LLP has made a investment in Northampton-based Portman Finance Group, with CEO Alex Read and the existing management team retaining a majority ownership stake.
- • Portman, founded in 2007 by chief executive Alex Read, provides UK businesses access to finance through a network of more than 45 lending partners alongside its own lending operations.
- • The deal is the tenth investment from Freshstream's first independent fund, which closed in 2023 after raising €762m.
- • Freshstream partner Tom Carroll described the business as "highly impressive and fast-growing," with the investment aimed at expanding Portman's reach among UK SMEs.
- • Stephens and Travers Smith advised Portman and its shareholders, while Moelis & Company, Clearwater International and Willkie Farr & Gallagher advised Freshstream.
Summary
Northampton-based Portman Finance Group has secured investment from Freshstream Investment Partners LLP as it seeks to expand its commercial finance business and reach more small and medium-sized enterprises (SMEs), according to TheBusinessDesk.com. The transaction is Freshstream's tenth deal from its first independent fund, which closed in 2023 after raising €762m.
Founded in 2007 by chief executive Alex Read, Portman provides businesses across the UK with access to finance through a network of more than 45 lending partners, alongside its own lending operations. Freshstream is investing alongside Read and the existing management team, who will continue to run the business and retain a majority ownership stake. The partnership is intended to build on Portman's growth and develop its position in the UK commercial finance market.
Read said Freshstream "shares our ambition for the business" and brings the experience needed to build on the momentum the company has created, describing the opportunity as significant in expanding reach and supporting more SMEs. Tom Carroll, partner at Freshstream, said Read and the team had built a "highly impressive and fast-growing business" and that the quality of the management team and their entrepreneurial spirit stood out from the outset.
Portman will join Freshstream's portfolio of entrepreneur-led businesses across Europe, which 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, while Freshstream received advice from Moelis & Company, Clearwater International and Willkie Farr & Gallagher. The article does not disclose the size of the investment.
Founded in 2007 by chief executive Alex Read, Portman provides businesses across the UK with access to finance through a network of more than 45 lending partners, alongside its own lending operations. Freshstream is investing alongside Read and the existing management team, who will continue to run the business and retain a majority ownership stake. The partnership is intended to build on Portman's growth and develop its position in the UK commercial finance market.
Read said Freshstream "shares our ambition for the business" and brings the experience needed to build on the momentum the company has created, describing the opportunity as significant in expanding reach and supporting more SMEs. Tom Carroll, partner at Freshstream, said Read and the team had built a "highly impressive and fast-growing business" and that the quality of the management team and their entrepreneurial spirit stood out from the outset.
Portman will join Freshstream's portfolio of entrepreneur-led businesses across Europe, which 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, while Freshstream received advice from Moelis & Company, Clearwater International and Willkie Farr & Gallagher. The article does not disclose the size of the investment.
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