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Apiary Capital has completed a £10m investment in Oxford-based Shaw Gibbs, a provider of essential accounting, tax, payroll and related advisory services to over 4,000 SMEs and high net worth individuals.
It is reported that the £10m investment will support the company’s “ambitious” growth plans for the firm, which currently has over 100 team members. Shaw Gibbs is said to be planning to expand through a targeted M&A programme.
The investment is also said to facilitate the expansion of the service offering to new and existing clients.
Apiary Capital has also acquired a “significant” equity stake in the firm.
Peter O’Connell, managing partner at Shaw Gibbs, said: “We are very proud of the business we have built, supported by a loyal team and entrepreneurial client base, and are convinced that Shaw Gibbs is ideally placed to capitalise on the compelling consolidation opportunity in the sector.
“In order to achieve our ambitious growth plans, we recognised that we needed a like-minded partner to support the next chapter of our growth and I am delighted to have found that in Apiary.”
Nicki Boyd, partner at Apiary Capital, added: “Peter and his team have created an enviable business underpinned by best-in-class client service and a strong culture. We are delighted to be supporting them as they now look to capitalise on the strong platform they have built through a targeted buy-and-build strategy.”
