Mon, 11/06/2018 - 09:53
Mid-market private equity firm Bowmark Capital has backed the buy-out of The Instant Group, a specialist in independent flexible workspace solutions.
Founded in 1999, Instant provides alternative methods of office procurement and management, with specific focus on flexible workspace and medium-term lease solutions, employing 250 people in 11 cities around the world.
Its market leading digital platform for flexible office procurement and innovative ’managed office’ solutions allow clients to rethink workspace as an enabler of transformation and growth rather than just as an overhead.
Instant has delivered compound annual revenue growth of 30 per cent over the past four years, rapidly growing its international footprint to serve its client base.
Bowmark managing partner Charles Ind, says: "We are delighted to be supporting chief executive Tim Rodber and his team in the next stage of growth. With highly differentiated service offerings, market-leading data, a high proportion of long-term contracted income and deep client relationships, we believe that Instant will continue to lead the way in the fast-growing flexible workspace market."
Bowmark is acquiring its interest from MML Capital Partners which, alongside management, is also re-investing in the transaction.
Tim Rodber says: "Instant’s independence and client-centricity has always allowed it to stand apart in the flexible workspace market giving our clients the best advice on the right solution for their business. The investment from Bowmark will allow us to retain our independence and scale the business globally to take advantage of the vast potential of the international flex market. Bowmark’s sector knowledge was clear from the outset and we look forward to working with its team to realise our ambitions for the future."
Luke Jones, partner at MML Capital Partners, says: "During our period of investment, Instant has become a leading and innovative provider of outsourced property services, driven by an outstanding management team. We are pleased to continue our association with the business in its next stage of development with Bowmark."
The Instant Group was advised on the transaction by Livingstone Partners (Corporate Finance) and Macfarlanes (Legal).
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