Alternative funder ThinCats sees potential in Unseen
Alternative finance provider to the mid-sized SME sector, ThinCats, is backing Manchester-based acquisitive business, Unseen, in its growth ambitions.
Thin Cats said it has provided “a significant funding package” to Unseen Group, which describes itself as “a collective of brands working towards a common goal, under one umbrella – Unseen”.
It said it has identified a strong pipeline of potential acquisition targets, all at various stages, which it plans to purchase over the next two years.
Based in Manchester, with locations in London and Sheffield, Unseen Group recently launched its new buy and build brand and EVP (employee value proposition) following its fifth acquisition in the talent and student employability sectors.
The group integrates newly-acquired businesses rapidly and runs internal operations such as finance, HR, and brand development centrally, unlocking potential and allowing the businesses’ management teams to focus on growth.
Having grown to more than 50 staff, Unseen group companies offer their services to in excess of 50 universities and 600 graduate employers which, in turn, has helped 1.2 million registered candidates make an estimated one million job applications.
Revenues more than doubled last year compared with the previous year, from £2.1m to £4.5m, and the group now consists of early talent attraction portfolio, Careerpass network, employability consultancy specialists, Gradcore, and digital assessment platform, TopScore.
Unseen Group CEO, Zac Williams, realised the early talent and employability markets were “fragmented” and spotted the potential to bring companies together that work across the route from education to employment to offer a better experience for all involved.
Michelle Heptinstall led the deal team at ThinCats. Financial due diligence was provided by Pierce & Co and legal advice on the transaction was provided by Addleshaw Goddard.
Zac Williams said: “We’ve built Unseen’s value proposition from the ground up, involving all of our employees and embedding their feedback into every sentence of our culture guide. We’re thankful to the team at ThinCats who are backing our mission to provide opportunities and choices for Gen Z and beyond.
“We’ve made some huge steps on that so far, and we’re excited to continue exploring the marketplace and uniting brands that feel they align with our group purpose.”
Michelle Heptinstall, director business development, ThinCats, said: “We are delighted to be supporting Zac and his expert team’s vision for business. They are adding fantastic businesses to the group, and are fast becoming a force in the talent and student employability sectors. We are excited to be on this journey with them.”
