Clearwater International advises Synova on investment in Defaqto


Defaqto, an independent provider of information on financial services products, has received significant investment from Synova Capital as part of their management buy out.

Defaqto is a leading UK independent financial researcher, focused on providing intelligence to support better financial decision-making. At its heart is the UK’s largest retail financial product and fund database – which it maintains by collecting data from across the whole market, and using its expertise and insight to analyse this data and make it comparable. From this, Defaqto creates a range of products and services – ratings, software solutions, data services, publications and events – to deliver this information in a meaningful way. Defaqto’s intelligence facilitates enhanced financial decisions and greater effectiveness in the creation, management and distribution of financial products.

Synova has invested alongside the existing management team, acquiring a majority shareholding in the business. Synova’s investment will support the management team, to grow the company primarily through its organic activities with a strategy to double the size of the business over the next few years.

Clearwater International advised on providing acquisition debt and working capital facilities to the business. This is the fourth transaction that Clearwater International and Synova have worked together on. The team was led by partner Chris Smith with support from director Karen Edwards and associate director Andy Dyer.

Tim Ashlin, partner at Synova, said: “We were really impressed with the support provided by Clearwater International in order to successfully raise the debt for this transaction. The team’s knowledge of the debt markets and negotiation skills were key to putting the banking in place. Thanks very much for all your hard work which allowed the business to secure a very attractive debt package within a tight timeframe.”

Chris Smith, Debt Advisory partner at Clearwater International, commented: “We have enjoyed working closely with Synova and the management team to get this transaction over the line in a short timeframe. The funding provided by HSBC will provide the business with the support and flexibility required as they embark on their exciting growth plan.”