Nottingham dealmaker leads advisory team on £1.5m AI investment

A Nottingham dealmaker has led a team advising a private equity firm on its £1.5m investment into an artificial intelligence and machine learning SaaS provide.

Matt Bolton from Browne Jacobson’s national private equity team, has advised Foresight Midlands Engine Investment Fund on its investment into The Modular Analytics Company Limited (TMAC).

The investment forms part of an aggregate round, with co-investment provided by the Greater Manchester Combined Authority (GMCA).

TMAC was founded in 2018 by Jimmy Hosang and Sean Northam with a vision to change the way data science is understood and applied. TMAC’s contact centre solutions software helps operators make better decisions faster, improving customer experiences, and generating, accelerating and modulating results to deliver value quickly. The business works with a diverse client base made up of blue chip and FTSE 100 clients that cut across the retail, banking, financial services and media sectors.

The Browne Jacobson team was led by associate Matt Bolton, who recently advised Foresight on its exit from e-commerce fulfilment specialist Selazar. Bolton was assisted by associate Bethany Pickup and they were supported by Browne Jacobson private equity partner, Gareth Davies.

Jordan Lavender, investment manager leading the transaction for Foresight Group, said: “We are delighted to be supporting TMAC on its next stage of growth. With digital transformation projects becoming more widespread in organisations, TMAC is well placed to take advantage of this flourishing market. We’d like to thank the Browne Jacobson private equity team which again delivered both excellent service and high-quality advice.”

Bolton added: “We’re delighted to have supported Foresight on its investment in TMAC – an exciting business with a strong management team which is already starting to gain real traction in its market. We wish them every success as they press ahead with their scaling and growth plans.”