A people advisory firm has secured funding to accelerate its growth plans. New Street Consulting Group (NSCG) has raised £6.5m to support its build-and-build strategy as it looks to grow in the UK and expand overseas.
Leeds-based, Fresh Thinking Advisory supported the management team in developing the funding round and securing a deal with White Oak UK, a specialist SME funder.
NSCG, one of the UK’s largest multidisciplinary recruitment and people advisory organisations, recently enhanced its consulting proposition by acquiring The Chemistry Group. The move enabled NSCG to embed a mergers and acquisitions strategy, enhancing its support for large firms globally in sectors such as professional services, finance, healthcare, and technology.
Commenting on the deal, Martin Oliver, CFO of NSCG,(pictured) said: “Our business continues to go from strength to strength as we focus on delivering industry-leading levels of service in the UK and globally. The new funding will accelerate our buy-and-build strategy over the coming months.
“Working with Fresh Thinking Advisory ensured we could bring new expertise and experience to the management team to expedite our fundraising. The team helped us secure a funding partner that understands our business and goals.”
Fresh Thinking Advisory supports management teams to help them understand and pursue funding plans. It provides a consultancy service to help companies manage and raise funding.
Andrew Walls, director at Fresh Thinking Advisory, said: “A strategic review revealed several viable options for NSCG, given its high-quality customer base, robust internal controls, and exceptional finance team. After evaluating the group’s long-term strategic objectives, Fresh Thinking Advisory concluded that a combination of several facilities would be the most suitable solution.”
By providing impartial support to businesses when dealing with lenders, Fresh Thinking Advisory assists firms looking for a wide range of secured and unsecured finance options. The company offers a whole market funding advice service and leverages its knowledge and connections to assist clients in obtaining and renegotiating debt financing.
Michael Collins, associate director of Fresh Thinking Advisory, said: “It was a pleasure to collaborate with the NSCG team. As a significant player in their market with a proven track record and an impressive cohort of multinational clients, NSCG provided an excellent platform to demonstrate the group’s strengths. The team’s quality was instrumental in the successful delivery of the project and received high praise from all involved parties.
“Despite popular opinion that lower-mid market funding is currently challenging to secure, this case serves as a testament to the growing alternative funding industry’s capacity to offer innovative capital solutions to high-quality businesses. White Oak UK’s ability to structure and deliver facilities will provide NSCG with the necessary support to execute their growth strategy.”
The deal marks the end of a busy quarter for Fresh Thinking Advisory, which has seen it support regional companies in raising over £10m in funding.
Kelvin Thomas, business development director from WOUK, concluded: “We are delighted to be supporting Martin and the NSCG team as they drive forward their growth strategy. Following on from the initial mandate and in close collaboration with all parties, we were able to structure and deliver working capital facilities generating significantly increased levels of funding over and above their incumbent funder. The competitive process gave us the opportunity to instil critical confidence in our ability to deliver, demonstrate our creativity and ensure a highly efficient timeline to completion. We look forward to a strong, successful partnership.”
