Software business Signable secures investment from BGF
Signable has attracted an investment from BGF, as it looks to scale its offering. FRP Corporate Finance acted as lead advisor to the compliance-focused software business.
Bristol-based Signable was founded by Culverhouse as an internal solution for his web design business. In 2012, the business pivoted to focus exclusively on its core eSignature platform and today, Signable’s secure, compliant software platform enables businesses to manage electronic signatures and digital workflows.
In the years since, Signable has won the trust of clients across a range of sectors and geographies, including the likes of Allegiant, Smart Pension, and Drewery Property Consultants, alongside well-known brands such as Aardman and Krispy Kreme.
The deal
BGF’s investment will now support Signable’s next phase of growth, strengthening its capabilities and supporting new product development to provide increasingly advanced eSignature solutions.
Olly Culverhouse, CEO of Signable, commented, “The investment from BGF represents a transformational opportunity for Signable, providing a strong platform from which to launch our next phase of growth. Our focus has always remained the same: making our platform intuitive, secure, human and genuinely helpful. This investment will enable us to build on that mission, strengthen our product offering, invest further in our people and continue delivering the level of service our customers know us for.”
The dealmaker
The FRP Corporate Finance team in Bristol acted as lead advisers to Signable on the investment. Led by partner Tim Spooner, the team worked closely with the management team to assess its options for funding, resulting in a decision to progress exclusively with BGF because of its strong strategic fit.
FRP Corporate Finance then led on the commercial negotiations, before managing the due diligence process and coordinating advisers to complete the transaction.
Spooner remarked, “Software as a Service businesses like Signable, with a clear customer focus, strong repeat usage and business-critical products, continue to attract strong interest from private equity investors. It is more important than ever in the current market that SaaS providers can clearly demonstrate their differentiated IP and long-term sustainability to underpin growth plans and satisfy investor requirements. BGF’s track record of supporting the growth of technology businesses will empower the management team as they scale the business further. It will also unlock new resources for Signable as it looks to expand its offering and I look forward to seeing how the business continues to develop following this transaction.”
Culverhouse added that he was “grateful to Tim and the team at FRP Corporate Finance for their support on this transaction” – praising their “expertise and experience helped ensure the best possible outcome from this deal”.
Other M&A support came from VWV, which provided legal services on the sell-side; while Ashfords did the same on the buy-side.
