Diligent Consultancy advises Beech Tree Private Equity’s Investment in RS Fleet

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Dave Rogers, Due Dilligence Provider to BTPE

Dave Rogers, Managing Director, led a team from Diligent Consultancy in its role as IT due diligence provider for Beach Tree Private Equity.

Whilst working with the company for the first time, the team from Diligent Consultancy ensured key IT risks where addressed prior to investment, thus safeguarding the client’s investment opportunity. Diligent Consultancy also provided IT strategic remediation plans to ensure the IT matches the current and future needs of the business.

RS Fleet has now secured funding support from private equity firm Beech Tree Private Equity through its Fund 1. The terms of the deal have not been disclosed.

BTPE has been set up by two former executives at private equity house Gresham. Paul Franks ran Gresham’s Birmingham office and his colleague in the venture is Andy Marsh, who runs the operation in Manchester.

Commenting on the deal, Paul Franks, managing partner of BTPE said: “We are incredibly excited to be investing in RS Fleet. Our business model is to seek out fast-growth sub-sectors in the UK and then find the best businesses in these sectors to take advantage of the market dynamics. 

“The market for telematics-based solutions is accelerating rapidly and we believe we have found the UK’s leading service provider to the insurance industry in the UK. Our investment will be used to expand the management team, to enter new markets in the UK, including the fleet market, where we see huge potential for telematics-enabled solutions and to support RS Fleet’s existing customers with their growth plans, both in the UK and overseas.”

Lea Hodson, managing director of RS Fleet said: “I am delighted to have Beech Tree Private Equity on board as a partner to assist in the growth of RS Fleet. RS Fleet is at the centre of a growing market that provides real benefits for insurance companies and their customers from the use of telematics technology.  “Bringing a private equity investor on board that is experienced, who understands the business and fits culturally is a big step for me and the company.”

Including Dave Rogers from Diligent Consultancy, BTPE were also advised on the deal by Eversheds (legal – Antony Walsh, Nick Turner) and KPMG (financial – Glynn Bellamy, Mathew Vernon, Richard Dwight; tax – Steve Heath, Anna Roberts).

RS Fleet was advised by Higgs & Sons and Spencer Gardner Dickins.