A London firm giving space, money and advice to SMEs has acquired Manchester-headquartered business advisory Winning Pitch.
Founded in 2005 and with a turnover of around £5m, Winning Pitch is an advisory and entrepreneurial coaching firm that works with businesses across the north of England and Wales, helping them scale up and build value.
It has been acquired by Newable, a firm that supports over 25,000 businesses each year, and is the Department for International Trade's delivery partner across London and the South East.
It's hoped the deal will facilitate "significant growth", combining Winning Pitch’s public-sector driven expertise in the North with Newable's services including business advice, lending and space.
Jim Keane, CEO of Winning Pitch, said: “This is a really exciting opportunity to deliver the considerable combined expertise for the benefit of businesses throughout the whole of the UK.
"We are looking forward to working with Newable in expanding on the range of services offered to both existing and new clients, partners and business owners.”
Winning Pitch has supported over 16,500 firms and created over 28,000 jobs. It designs, delivers and manages business growth contracts on behalf of local and central Governments.
National accountancy group UHY Hacker Young advised Newable on the acquisition.
Chris Manson, CEO of Newable, said: “There is clear synergy with Winning Pitch in terms of our shared people-led values and objectives of supporting businesses at the heart of the economy to drive and empower growth.
“Through complementary skillsets, geographical reach and business networks, we will be able to provide an unrivalled offer across the UK to help businesses at every step of their journey, from start-up to scaling up.”
The corporate finance team at UHY Hacker Young was led by David Kendrick, partner, who worked with corporate finance executives, Dominic Eccles and Andrew Hancock.
The team advised Winning Pitch in identifying the buyer, negotiating the deal and providing full deal management services to the shareholders.
Jim Keane will continue to lead Winning Pitch as CEO and John Leach will continue to contribute in an advisory capacity.
David Kendrick, corporate finance partner at UHY Hacker Young, said: “Having known John for a number of years, this sale to Newable is an elegant exit for him, allowing the business to become part of a much bigger and ambitious group.
"There are huge synergies between the two businesses and despite COVID, good businesses are still desirable for acquisition.”
