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Enhance Group announces shareholder buyout

Enhance Group announces shareholder buyout

Tuesday 13 October 2020

Enhance Group announces shareholder buyout

A fintech-led investment monitoring and advice provider has announced the completion of a shareholder buyout comprising roughly 22% of the company's share capital.

Enhance Group's CEO Tom Wiseman, and Chairman Lyndon Trott led the shareholder buyout of Founder James Painter and Director Lee Quemard's stakes in the business.

"2020 is poised to be the most successful year in Enhance Group's history," said Mr Wiseman. "Therefore, it made perfect sense to orchestrate a shareholder buyout now, to put the ownership of the business in the hands of the employees that will be driving the company forward."

Earlier this year, the group, which has private equity backing from TISE-listed Financial Services Opportunities Investment Fund, launched its proprietary investment oversight platform Mosaic; introducing more granular, sophisticated and customisable portfolio analytics at a point in time that coincided with the stock market turmoil created by Covid-19.

Mr Trott said that in spite of the difficulties that 2020 has brought, the future looks 'bright' for Enhance. 

"As we all adjust to a pandemic-induced global recession, the importance of, and demand for, independent investment monitoring and advice naturally increases. Using our state-of-the-art software, Enhance is perfectly poised to provide comprehensive yet cost-effective and scalable intelligence to fiduciaries, family offices and charities."

Staff equity participation has increased as a result of the deal and the ownership profile of the business has been recalibrated ahead of 'significant' growth plans for 2021.

The announcement comes soon after Enhance's sale of MPI, an investment manager subscription service providing peer grouping and analytics to STEP members.

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