Addleshaw Goddard advises SEP on exit from car finance fintech Zuto
International law firm Addleshaw Goddard has advised Scottish Equity Partners (SEP), the leading growth equity investor specialising in enterprise technology, and various other shareholders on their exit from UK car finance fintech Zuto.
SEP’s exit comes as private equity investor Bridgepoint, has announced a new partnership with Zuto, becoming a majority shareholder in the business through its small cap Growth fund which focuses on scaling fast-growing, profitable European businesses.
SEP is a long-term investor in Zuto, which was founded in 2006 and has helped more than 450,000 people in the UK find the right car finance for their needs, disrupting a UK market worth around £30 billion.
The Addleshaw Goddard team advising SEP and various other Zuto shareholders on the transaction was led by Partner Murray Jack and included Yavor Georgiev and Charlotte Hope.
The new partnership will accelerate the development of Zuto’s technology platform and broaden the company’s product range, drawing on Bridgepoint’s deep sector expertise in scaling high-integrity fintechs.
SEP Senior Adviser, Tony Robison, commented: “We’re proud to have partnered with Jim and the Zuto team as they’ve built a market-leading business in UK car finance. Their growth, innovation and commitment to improving the customer experience has been exceptional. It’s been a privilege to support their journey, and we’re delighted to see them take this next step with Bridgepoint.”
Jim Wilkinson, CEO of Zuto, said: “We are hugely grateful to SEP for the support and guidance they have given us. Their partnership, and belief in our mission, has played a huge part in shaping the business into what it is today, supporting the development of the progressive culture that makes Zuto so unique”.
SEP was also advised by GP Bullhound Corporate Finance and BDO (financial).