Addleshaw Goddard advises Frontier Development Capital on its first regional investment

Addleshaw Goddard's Northern Banking team has advised Frontier Development Capital (FDC) on its investment into 120-strong Yorkshire based agency, Ingenuity Digital Holdings Group (IDHL).

The funding package sees a £4m investment from FDC's newly launched National Mezzanine Fund, which is open to businesses that require flexible finance packages to achieve their growth aspirations regionally. 

A further £14m investment was seen from HSBC, with the over investment package supporting the MBO of IDHL and enabling the existing senior management team of IDHL to become majority shareholders of the business.

The AG team included Richard Oman and Jessica Burgess.

Richard Oman, Partner, at Addleshaw Goddard, said: "We were delighted to have been able to advise Frontier Development Capital on their first investment for their National Mezzanine Fund.  This deal is a fantastic showcase for Frontier Development Capital's financing packages and creates a strong platform to support an ambitious, growing business in IDHL."

Ondrej Okeke, Regional Investment Director at Frontier Development Capital (FDC), said:  “This company is a perfect example of the type of business we are focused on supporting – a regional business with ambitious growth plans and a very credible management team.

“IDHL’s success to date has been based on its highly client-focused approach, underpinned by robust proprietary systems – with such a strong base and energy, we are looking forward to working with the team and seeing just how much they grow the business in the coming years.”