Our due diligence work for Foresight in relation to the fast-growing coffee company 200 Degrees was recently recognised at the Insider East Midlands Dealmakers awards.
200 Degrees, the artisan coffee roasters and wholesaler, started out in Nottingham five years ago and now has six (soon to be seven) coffee shops and barista schools across the UK.
The business is growing fast, so it wanted to secure development capital for further growth from the Nottingham office of Foresight, the private equity house. Foresight then came to us and asked us to do the due diligence work.
The work we did
Our due diligence report and critical opinion gave Foresight the confidence and insight needed to invest in 200 Degrees, providing £3m of development capital. This will be used to support its growth programme and shop roll out plan.
It was a great deal for the region. One involving a local business and several other local professional advisers, including banks and law firms. That’s what made it SME Deal of the Year.
Not your average due diligence
We worked to a tight timetable, maintained regular communication with Foresight and produced a detailed report. We were hands on with the management team at 200 Degrees and it was great to spend time with another Midlands-based entrepreneurial business.
We used our tailored approach to give Foresight an honest, opinionated report that covered all their areas of concern.
This year’s award follows our Cooper Parry Corporate Finance team’s double win at the awards last year, where they won East Midlands Team of the Year and SME Deal of the Year.
We’re always looking to work with private equity houses on deals of a similar size and complexity. So, if you’d like to talk or grab a coffee (one from 200 Degrees, perhaps?), please get in touch.