Birketts advises Cambrionix on Foresight Group investment
15 March 2023
Birketts’ Corporate Team has advised Cambrionix and its owners on its multi-million pound equity investment from Foresight Group.
Founded in 2007, Cambrionix is an industry leading Cambridge-based designer of hardware and software solutions for the global mobile device management market. An estimated five million devices worldwide are connected to Cambrionix hardware at any one time.
Foresight Group’s investment comes from the £100 million Foresight East of England Fund, a fund developed to support SMEs in the East of England and beyond. It will support the management team as they develop Cabrionix’s strategy of enabling mass deployment of mobile devices.
Adam Jones (Corporate) and Greg Allan (Corporate) led the team from Birketts and were supported by Alice Wooler (Corporate), Karl Pocock and Robbie Watson (Corporate Tax), and assisted by Samuel Varney and Leanna Romano (Corporate).
Victoria Tyson, Director, Cambrionix Holdings Limited, said: “We were thoroughly impressed with the level of service provided by Greg Allan, Adam Jones and Alice Wooler. The team was incredibly knowledgeable and professional throughout the entire process. Communication was clear and timely, which helped to alleviate any concerns or questions we had along the way.
“What stood out to us was the personalised and commercial approach the team took in handling our matter. They took the time to understand our unique situation and needs, and worked diligently to provide a solution that best met our goals. Overall, we were extremely satisfied with the service we received from Birketts and would highly recommend them to anyone in need of legal assistance.”
On the transaction, Greg Allan, Partner, said: “Cambrionix has positioned itself as a leading player in the fast-growing mobile device management sector, and we are delighted to have provided support on its investment from Foresight. This transaction paves the way for Cambrionix to capitalise on the opportunities in its sector both locally and internationally. Cambridge has established itself as a thriving tech hub, and this latest investment demonstrates the strength and depth the region has to offer.
Adam Jones, Partner and Head of Private Equity, said: “Foresight’s investment into Cambrionix cements its position as a leading PE investor in the region, and with our PE skillset we were very well placed to help to secure this equity funding, which will enable Cambrionix to continue on its impressive journey.”