Grant Thornton advises Springboard Research Holdings Limited Springboard Research Holdings Limited sold to MRI Software

October 2022
Springboard Research Holdings Limited
Adviser to Springboard Research Holdings Limited on their sale to MRI Software
£undisclosed
Grant Thornton team
Technology
Sell side
Corporate finance
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We are delighted to have advised Springboard Research Holdings Limited on their sale to MRI Software.

Springboard is the leading provider of insights on bricks-and-mortar retail activity, tracking and forecasting pedestrian traffic and delivering performance metrics across retail destinations. Founded in 2002, the business partners with leading brands across the world and is relied upon by global media and government bodies.

We advised the management team on the MBO of the business in 2014, backed by YFM Equity Partners.

We were appointed by the shareholders of Springboard to explore options to realise a partial to full exit for the various management-shareholders and YFM Equity Partners.

Our team prepared the business for sale before launching a dual-track process which focused on exploring both private equity investors and trade (strategic) acquirers.

During this process we utilised our international network to explore international investors and acquirers – particularly in the US, a key growth market for the Springboard business.

Following a competitive marketing process with several bidders we progressed into exclusivity with US-based MRI Software. Our corporate finance team provided hands-on support through the diligence process, bringing in other relevant firm expertise in areas such as tax advisory as required, bringing the transaction to a successful conclusion.

Testimonial

The Grant Thornton team provided a great service throughout this process, working with the shareholder group to explore our options to realise value from the business. The team introduced us to the eventual buyer in the US, and ultimately got us a deal that worked for everyone, while providing a great home for the business to continue to grow.

Steve Booth CEO, Springboard Research Holdings Limited

The Grant Thornton team provided a great service throughout this process, working with YFM and the management team to explore various routes to exit, ultimately bringing a really strategic buyer to the table. They negotiated hard for us throughout the deal and this represents a great result for YFM on our original investment.

David Bell Head of Portfolio, YFM Equity Partners

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