Leading retail software and services provider, Forma Innovations, has secured new facilities from existing funder Shawbrook to support its acquisition of Retail Manager Solutions. The £8.3m funding package will enable Forma to expand its services and continue providing cutting-edge technology and a service-driven approach to its clients.
Forma Innovations, established in 1984, is a market leader in data-driven software and services for retail planning, space planning, survey, and design. The company has a strong track record of supplying business-critical solutions to some of the UK’s largest retailers, such as Sainsbury’s, Primark, and Asda.
Since its partnership with investor Tern Capital in 2023, Forma Innovations has experienced substantial growth. The company was seeking funding to support future growth and expand its services with the acquisition of Retail Manager Solutions, a software and services firm that helps multi-site businesses run more effectively and supports clients at over 14,000 business locations globally.
Shawbrook, with its deep understanding of Forma’s business structure and extensive experience in the tech sector, arranged an £8.3m funding package. The package consists of term loans, revolving credit, and follow-on committed facilities, providing the necessary support for the acquisition and unlocking new software services, customer bases, and cross-sell opportunities for Forma Innovations.
Karthik Dasari, Director at Forma, said, “We had a strong relationship with Shawbrook and were confident that their team would provide a solution to meet our multiple objectives. Their innovative approach overcame several challenges presented by the acquisition structure, and our long-standing partnership made this a smooth transaction.”
John Palmer, Senior Director at Shawbrook commented, “At Shawbrook, we value long-term relationships with our clients. Our commitment extends beyond initial transactions, and we continuously support our clients through their growth journeys. In Forma’s case, we recognize their strong market position, experienced management team, and dedication to exceptional client service, which is reflected in our ongoing support.”
Pinsent Masons acted for Shawbrook on the transaction, with financial diligence support provided by Mazars.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.