Year in Review 2023-24

Sep 2023

Coniston Partners with FMC

Coniston completed an investment into Finlayson Media Communications (FMC), the UK’s leading dental communications company, to support its growth strategy.

The Business

FMC is a trusted dentistry media brand, connecting dental professionals to their industry through multiple channels including websites such as dentistry.co.uk, publications including Dentistry and Private Dentistry, exhibitions and awards.

The Deal

The business was founded in 1994 and is now led by its management team Craig Welling, Jason Newington and Tim Molony.
Coniston introduced James Tye as Non-Executive Chair. Tye had a successful executive career in media including fifteen years as CEO of Dennis, which he led through a successful MBO and subsequent exit to Future Plc.

The Future

The partnership with Coniston will support FMC’s plans to expand their digital and events offerings and to build on their subscription service, The Dentistry Club, where dental professionals can access CPD and online learning facilities.

Deal Team
Deal Lead – Alfred Chambers
Sector – Business Services

Oct 2023

Coniston Backs MWA

MWA Financial, an Independent Financial Advisor consolidation platform, secured a significant growth capital investment from Coniston to fund their acquisition strategy.

The Business

An Independent Financial Advisor consolidation platform acquiring UK IFA businesses which provide their clients with independent, holistic financial advice.

The Deal

MWA was founded in 2016 by CEO, Cam Banks. The management team is led by Banks and Director of Operations, Marine Deruelle. They are supported by Executive Chair, Ed Rosengarten.

The Future

Coniston’s funding will increase MWA’s acquisition power with three further acquisitions anticipated in the next twelve months and will support MWA’s plan to become a national player in the IFA market.

Deal Team
Deal Lead – Ben Kirby
Sector – Business Services

Nov 2023

Coniston Appoints Acquisition Analyst and Announces Promotion

Beatriz Geraldes joined Coniston as an intern in August 2023 and was appointed as an Acquisition Analyst in November 2023. She graduated with a First in International Management with Finance from the University of Warwick last July and has completed several work placements previously, including a Finance Internship at Caetano Retail Spain.

Beatriz is the second member of the team to have completed our internship programme, which runs over the course of each summer and can lead to a graduate role within the business.

Michael Calder joined Coniston in August 2021 as the firm’s first Graduate and was promoted to Acquisition Executive in October 2023. He has worked closely with portfolio company, Masterfix, and sourced their first acquisition. The leading property maintenance firm acquired MDfx, a designer and installer of Smart Home Automation and entertainment systems, in February 2024.

Dec 2023

FMC Partners with Apolline

Coniston portfolio company FMC partnered with Apolline, a compliance solutions provider, to be able to offer a complete compliance support service for dental practices and their teams.

FMC’s partnership with Apolline will allow both companies to expand their offerings to the dental profession.

Feb 2024

Masterfix Acquires MDfx

Coniston portfolio company Masterfix, a leading property maintenance company, acquired MDfx, a designer and installer of Smart Home Automation and entertainment systems.

MDfx specialises in automating home entertainment, lighting, heating and security. The company installs systems into homes, upgrades existing smart systems and provides annual servicing to monitor and maintain the equipment.

The acquisition will allow Masterfix to expand its direct service delivery to customers within the premium residential market.

Mar 2024

Coniston Invests in Equity Networks

Coniston Capital completed an investment in Equity Networks, an IT Managed Service Provider, to fund their acquisition strategy.

The Business

Equity Networks is an IT Managed Service Provider.
The business offers four key services: Managed Cloud Applications, including the implementation and maintenance of platforms like Office365, Managed Cloud Infrastructure, where data is migrated from outdated servers to the Cloud, Managed Security of data and Managed Communications, primarily internet connectivity.

The Deal

The company was founded in 2011 and is led by Co-Managing Directors, Alex Hall and Marcos Reid.
As part of the transaction, Coniston introduced Edward Spurrier as Non-executive Chairman. Spurrier has built a successful career in IT and Communications including in his roles as CEO of Alt Networks and Chairman of Wavenet.

The Future

The partnership with Coniston will enable Equity Networks to execute on the next phase of acquisitions, with several opportunities in the pipeline.

Deal Team
Deal Lead – Alfred Chambers
Sector – Professional Services

Apr 2024

Coniston Announces Promotion

Natalie Odell was promoted to Head of Operations, Compliance and Marketing in April 2024, after joining Coniston in October 2021.

Natalie joined Coniston in October 2021 as the firm’s Head of Operations and has worked closely with Amit and the team overseeing operational matters as well as taking on marketing and compliance responsibilities.

May 2024

MWA Makes Further Acquisitions

Coniston-backed MWA acquired Knighthood Financial Advisors (KFA) and the assets of Asset Management Advice (AMA) as part of their ongoing acquisition strategy, supported by further funding from Coniston.

The deal followed the acquisition of Cornwall-based Financial Advice Centre in August 2023 and supports MWA’s plan to become a national player in the IFA market taking their acquisitions to seven to-date with a pipeline beyond that.

MWA secured an initial growth capital investment from Coniston in October 2023 to fund their acquisition strategy.

May 2024

Equity Networks Partners with Trust Networks

Coniston-backed Equity Networks acquired Trust Networks as part of their ongoing Buy & Build strategy.

Equity Networks, an IT Managed Service Provider, acquired IT Services business, Trust Networks. This was Equity Networks’ first acquisition since partnering with Coniston and its sixth to date, following the acquisition of First Line IT in May 2022 and Sage Telcom in July 2023.

Trust Networks provides IT services to North London and the surrounding areas and has a well-established customer base. The acquisition will add significant value to Equity Networks as it looks to scale through acquisition whilst focusing on driving continuous improvement and customer satisfaction.