law
Blandy & Blandy LLP advises on £12 million investment
Blandy & Blandy’s corporate team has advised fast growing retail point- of-sale marketing specialist Ecrebo on a £12 million investment from Air Miles and Nectar founder Sir Keith Mills and former Warburg Pincus head of Europe, Joseph Schull. Octopus Ventures, an existing Ecrebo investor, also participated in the latest funding round, the proceeds of which will be used to help facilitate a further expansion into the US
Since 2010, the Ecrebo platform has processed more than £35 billion in transactions for some of the world’s leading retailers, including M&S, Waitrose and PANDORA, and generated more than £500m in additional sales. The Reading-based business also recently featured in the Deloitte UK Technology Fast 50 2016 as one of the UK’s fastest- growing technology companies.
Sir Keith Mill’s investment will see him joining the board of Ecrebo alongside Joseph Schull, a former executive at Warburg Pincus, the buyout firm that bought a big stake in Nectar ahead of its launch 15 years ago.
Corporate partner Jonathan Williamson said: “We thoroughly enjoyed working with founders Hassan and David and the Ecrebo team. Ecrebo is a huge success story not only for Reading and the Thames Valley but for the technology sector in the UK as a whole. Securing this investment from this particular group of investors is due reward for the enthusiasm and hard work of the whole team over recent years. It was also a pleasure working collaboratively with Sir Keith, Joseph, Octopus and their respective advisers on this hugely exciting matter.”
Dr Hassan Hajji, Ecrebo co- founder CEO, praised the support Blandy & Blandy had provided and explained: “We are delighted to secure investment from Sir Keith Mills and Joseph Schull and to welcome them both to our board.”
Ecrebo co-founder David Vernon added: “It was a pleasure working with Jonathan. Through the deal, he was always positive, pragmatic and determined to get the deal done.”
Mills said: “I am delighted to announce this investment in Ecrebo, who impressed me
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with their firmly-established credentials and leadership within the retail technology sector. I am looking forward to working closely with the Ecrebo team in the coming months to help them grow the business both in the UK and internationally.”
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THE BUSINESS MAGAZINE – THAMES VALLEY – APRIL 2017
businessmag.co.uk
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