London, UK – Forma Innovations, a leading provider of data-driven software and services, has secured new facilities worth £8.3m from their existing funder, Shawbrook, to support the acquisition of Retail Manager Solutions. This strategic move highlights Forma Innovations’ commitment to offering cutting-edge technology and a service-driven approach to their clients.
Forma Innovations, founded in 1984, specializes in providing software and services for surveying, managing, and optimizing retail spaces. The company has a proven track record of supplying business-critical solutions to some of the UK’s biggest retailers, including Sainsbury’s, Primark, and Asda.
Since partnering with investor Tern Capital in 2023, Forma Innovations has experienced significant growth. The company was seeking funding to support future expansion plans and the acquisition of Retail Manager Solutions, a software and services firm that helps multi-site businesses run more efficiently and supports clients at over 14,000 global business locations.
Shawbrook, with its in-depth understanding of Forma’s business structure and strong experience in the tech sector, structured an £8.3m funding package consisting of term loans, revolving credit, and follow-on committed facilities. The acquisition will bring significant benefits to Forma Innovations, including access to new software services, customer bases, and cross-selling opportunities.
Karthik Dasari, Director at Forma Innovations, said, “We have a strong and long-standing relationship with Shawbrook, and we were confident that their team would provide a solution to meet our multiple objectives. Their innovative approach overcame several challenges presented by the acquisition structure, and our partnership made this a smooth transaction.”
John Palmer, Senior Director at Shawbrook, commented, “At Shawbrook, we believe in fostering long-term, mutually beneficial relationships with our clients. Our commitment extends beyond initial transactions as we continuously support our clients through their growth journeys. In Forma’s case, we recognize their strong market position, experienced management team, and dedication to exceptional client service, which is reflected in our ongoing support.”
Pinsent Masons acted for Shawbrook on the transaction, with financial diligence support provided by Mazars.
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