Private Equity

Top UK Boutique M&A Advisory Banks in TMT - 2024 Guide

Analysis the TMT bankers that can drive your next deal

Introduction

Our focus at ListAlpha is to provide the best software and data to private equity funds. One of the areas of deal making that until now has remained fairly clouded is the mid-market M&A banker landscape. Unlike large-cap / bulge-bracket names which are highly concentrated, mid-market is flush with niche advisers which are hard to find. To help our current and potential clients, we have compiled the below list of the best boutique M&A banks in the UK specializing on TMT advisory.

Criteria for Selection

  • Geography: UK-headquartered firms and global firms with UK presence
  • Industry focus: TMT (tech, media, telecoms)
  • M&A market segment: mid-market and lower mid-market
  • Product focus: sell side M&A advisory (most relevant for PE buyers)

1. TMT Generalists

Arma Partners (armapartners.com)

Arma Partners

Arma Partners is a leading independent M&A house founded in 2003, specializing in the global digital economy. The firm offers comprehensive corporate finance advice to companies, investors, and entrepreneurs, focusing on sectors such as software, fintech, digital health, and digital services. Arma Partners has completed over 300 deals with an aggregate value of $133.1 billion, and approximately 75% of these transactions have been cross-border. Arma Partners has bankers in offices in London, Munich, New York, and Palo Alto.

  • Employees: 150
  • Sector strengths: Media & Internet, Data & Information, Application software, Infrastructure Software, Communication Services, Cloud Managed Services, Digital Health, FinTech
  • Notable recent deals: Apax - Zellis, Hg - Focus, FIve Arrows - Agilio, Blackstone - Civica

GP Bullhound (gpbullhound.com)

Business matters: Technology is not defined by market valuations | Blogs |  Insider Media

London-based M&A boutique with a strong track record in internet, digital media and related software niches. GP Bullhound also has a direct investment arm focused on growth and VC-stage assets primarily in Europe.

  • Employees: 180
  • Sector strengths: Digital commerce, digital media, fintech, services
  • Notable recent deals: Goat - WPP, BRP Systems - Nordic Capital, Emergya - Ayesa

Drake Star (drakestar.com)

Drake Star Partners

Drake Star Partners is a global investment banking firm specializing in the technology sector. With a team of over 100 senior professionals, the firm operates from multiple offices, including New York, London, Paris, Munich, and San Francisco. Since its inception, the firm has completed over 450 transactions totaling more than $22 billion in deal volume.

  • Employees: 100
  • Sector strengths: Software/SaaS, digital media, fintech, mobility and sustainability, digital services, and industrial tech
  • Notable recent deals: Envato - Shutterstock, Swisslinx - Axiom

JEGI Clarity (jegiclarity.com)

JEGI CLARITY - SIIA-BIMS20

JEGI Clarity is a leading M&A advisory firm specializing in the media, marketing, information, and technology sectors. Founded in 1987 and headquartered in New York, the firm has a strong presence in London. JEGI Clarity offers a range of services including buy-side and sell-side M&A advisory, recapitalizations, divestitures, and debt advisory.

  • Employees: 80
  • Sector strengths: Digital Media and Content, B2B Information and Events, Marketing Services and Technology, Software, Legal Market Technology
  • Notable recent deals: e.Republic - Leeds Equity Partners, MiQ - Bridgepoint

Torch Partners (torchpartners.com)

Torch Partners is an independent investment bank focused on providing high-quality advisory services to leading technology businesses and top-tier investors. Founded to support high-growth technology companies, Torch Partners operates from offices in London and Paris, providing comprehensive services including strategic advice, transaction execution, and capital raising

  • Employees: 50
  • Sector strengths: Digital infrastructure, software, data & analytics, fintech, and digital consumer sectors
  • Notable recent deals: Zoovu - FTV, Inetum - Bain, ERM - KKR

Qatalyst (qatalyst.com)

Qatalyst Partners is a global, independent investment bank that provides strategic and financial advisory services to senior management and boards of established and emerging technology companies. Qatalyst Partners was founded in 2008 and operates from offices in San Francisco and London, serving clients globally. The firm is known for its significant role in major technology deals, including advising on acquisitions such as Motorola by Google for $12.5 billion and Nicira by VMware for $1.26 billion.

  • Employees: 100
  • Sector strengths: Software, Hardware, Digital infrastructure, Telecoms, Security
  • Notable recent deals: Darktrace - Thomabravo, Splunk - Cisco, Figma - Adobe

Acuity (acuity.co.uk)

Acuity Advisors is a leading independent investment bank specializing in the technology sector. They provide high-quality M&A and fundraising advisory services to mid-market technology companies. The firm operates from offices in London.

  • Employees: 30
  • Sector strengths: Semiconductor, Photonics, Deep Tech, Industrial technology, Telecoms, Cloud and Managed Services, Software and Tech-enabled services
  • Notable recent deals: Excalibur - Onecom, PTSL - Tikehau

2. Media Specialists

LionTree (liontree.com)

LionTree is an independent investment and merchant bank founded in 2012. LionTree offers a comprehensive platform that includes advisory, capital markets, and asset management services. The firm has advised on over 270 transactions with a total transaction value exceeding $750 billion. LionTree operates out of four offices in New York, San Francisco, London and Paris.

  • Employees: 140
  • Sector strengths: Media, technology, communications, consumer, and creative industries
  • Notable recent deals: Adevinta - Permira/Blackstone, Presidio - CD&R

Raine Group (raine.com)

The Raine Group | ICO Analytics

The Raine Group is an integrated merchant bank specializing in advising and investing in high-growth sectors of technology, media, and telecommunications (TMT). They provide a range of advisory services, including mergers and acquisitions, divestitures, and private capital raising. Raine also manages over $3.4 billion in assets through growth equity and venture capital strategies, focusing on fast-growing TMT enterprises.

  • Employees: 220
  • Sector strengths: Media, entertainment, semiconductors, hardware, digital consumer
  • Notable recent deals: ARM IPO, Kobalt - Francisco Partners

3. Entertainment / Gaming specialists

Video games (or gaming) and e-sports are an increasingly large market that has historically been under-banked by traditional M&A providers. There are now dedicated specialist M&A firms and independent advisers that focus on this niche but rapidly expanding space.

Aream & Co (aream.co)

One of the largest independent investment bank focused exclusively on interactive entertainment and gaming. The firm operates out of three offices in London, Berlin and San Francisco.

  • Employees: 30
  • Sector strengths: Digital media, gaming, mobile entertainment, consumer internet
  • Notable recent deals: Jagex - CVC, Snowprint - MTG, Outright Games - EMK

Agnito Capital (agnitiocapital.com)

Agnitio Capital is a specialized investment bank focused on the video games industry, providing both M&A advisory and doing direct investments as well. Founded in 2003, Agnitio Capital operates from London, offering deep sector expertise in digital media and gaming.

  • Employees: <10
  • Sector strengths: Digital media, gaming, mobile entertainment, consumer internet
  • Notable recent deals: AxesinMotion - Media and Games Invest

Conclusion

ListAlpha is a private equity CRM platform that allows you to track your most important M&A adviser relationships. To learn more about these features - please see our Relationship Management functionality page.

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