BigChange – A Big Change ahead with new investment valuing the business at 100 million

A Big Change ahead with new investment valuing the business at 100 million

Requirements

Having develped a flexible and scalable platform that is both intuitive, capable and successfully proven in the marketplace across a range of sectors and business sizes. The next phase of BigChange’s develpment was to drive additional growth within the UK and expand into new markets such as the US, Europe and Asia Pacific. BigChange needed to plan and understand how to achieve and support their goals from a financial, forecasting and cashflow point of view.

What we did

We started working with the founder, Martin Port and his management team in 2019 to fully understand the BigChange strategy and to get the numbers in place to generate a forecast model unique to their business and to reflect their growth plans

We helped the team develop the key drivers of the model to ensure there was robust data to support each assumption. We looked closely at the needs of the business to account for growth in new customers, including making sure enough additional tech resource for development and support teams were costed.

With a solid financial plan in place to achieve the business’s vision, we were then able to present the business ready for investment. We worked closely with KPMG and helped them with the data required for the information memorandum and getting the business to market.

To attract private equity investment we converted the presentation of the business from UK GAAP to illustrative IFRS and helped advise on the normalised working capital and deal completion mechanism.

Results

BigChange secured a £75m capital investment from Great Hill Partners, the firm behind Wayfair, ZoomInfo and Reward Gateway, to drive further growth and innovation. With founder Martin retaining a significant minority stake in the company, which was valued at £100m. This investment allows the business to move forward into the next phase of development as planned.

Services Provided

  • STRATEGIC SUPPORT

    Consultancy, advice and support

  • FINANCIAL MODELLING

    Set-up and monitoring financial performance across the business and setting up detailed forecasting projections and costings for growth.

  • BUSINESS PRESENTATION

    Assisted the business with presenting their results under IFRS as opposed to UK GAAP as previously reported

  • BUSINESS SALE SUPPORT

    Guidance and support throughout the transaction and due diligence process.