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Higgs & Sons advises on private equity investment in automotive tech sector

20th April 2021

Higgs & Sons advises on private equity investment in automotive tech sector

Higgs & Sons advised a leading automotive e-commerce provider as it continued its growth by securing private equity investment.

Higgs’ Tech and High Growth team worked with the GForces shareholders to achieve significant funding from Inflexion Private Equity.

The funding allowed GForces, a market leading automotive e-commerce and omnichannel supplier, to accelerate its growth at a time of huge change and progression within the industry.

The investment took place in November 2020 and this week it was announced that GForces had merged with Autofutura, a global, data-driven business intelligence provider, to create a new group, also backed by Inflexion Private Equity. Higgs & Sons advised the GForces management team on the merger arrangements.

The first of its kind in the industry, the new group aims to connect car maker, finance provider, dealer and consumer to optimise the entire customer journey – through the provision of software and data services.

Giles Smith, CEO of GForces, said: “The private equity investment and subsequent merger have been landmark events for the company and has allowed us to create an innovative model for the automotive industry.

“Throughout the whole process, Higgs & Sons has provided outstanding legal support and ensured both deals progressed and completed extremely smoothly.”

Richard Griffiths, Partner and Head of Corporate, and Jamie Partington, Partner, led on GForces’ funding and merger from Higgs, supported by Katie Willems, Craig Thomas, Amy Brokenshire, Emily Parkes, Laura Pearson, and Maria Nicol.

Mr Partington said: “We were delighted to advise GForces on this significant private equity investment and subsequent merger with Autofutura, which sees the creation of an exciting new automotive group at a time of huge transformation within the industry.”

“The new group now has a strong platform on which to build and grow.”

Team Head Mr Griffiths said: “These transactions further demonstrate the fantastic work that our team is carrying out in the tech sector and our private equity management advisory credentials.”

Autofutura and GForces already serve 20 of the world’s leading car manufacturers and over 9,000 dealers, across 96 countries. Headquartered out of the UK, its global presence includes offices in Australia, Canada, Germany, Vietnam, UAE and the USA.

Higgs & Sons works closely with investment funds, founders and management teams, guiding them through investment rounds from start up, through to scale up and exit. 

For more information, contact Richard Griffiths on richard.griffiths@higgsandsons.co.uk or Jamie Partington on jamie.partington@higgsandsons.co.uk or 01384 327339.

 

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