Shoosmiths advises Norland Capital and Finova on investment from Bain Capital Tech Opportunities
March, 2024 - Milton Keynes, England
Law firm Shoosmiths is advising Norland Capital and the management team of Finova, a leading provider of mortgage and savings origination and servicing software in the UK, on a majority investment by Bain Capital Tech Opportunities. The investment will see the simultaneous acquisition of MSO, the UK mortgage sales and originations software business of Iress (ASX: IRE).
By bringing together these two investments, Bain Capital expects to offer a fuller set of products to current and potential customers, whilst continuing to invest in both platforms.
A multi-disciplinary team of experts from Shoosmiths’ corporate team advised on the deal, co-led by corporate partners, Amit Nayyar and Kiran Dhesi supported by senior associates Lawrence Renny and Adam Frost, and associates Molly Cullen and Molly Vandervell. Anti-trust advice was provided by partner, Simon Barnes and tax advice from legal director Sarah Buxton and associate Jonah Cohen.
Paraag Davé, Executive Chairman of Finova and partner of Norland Capital, said: “Bain Capital’s investment in each business will strengthen and invest in the capabilities of both platforms and help deliver increased value to our customers. The Shoosmiths team were a true partner for Norland Capital and the Finova management team providing excellent support and delivering commercial and technical guidance in a condensed timeframe”.
