Proxama Ltd

Client: Proxama Ltd – developer of proximity marketing and m-payment software applications engineering an MBO, angel investment and an acquisition in a real turnaround year

Challenge: Proxama was already a successful technology business and had the backing of superb relationships with key stakeholders in the Near Field Communication (NFC) sector; MasterCard, RBS, Orange, Virgin mobile, Tesco, Sky, Waitrose, John Lewis etc. My Business FD was brought in to engineer an MBO, angel investment and an acquisition in a real turnaround year for the company.

Solution: My Business FD was introduced to Neil Garner, Founder and Managing Director at Proxama Ltd in early 2010 and has since played a pivotal role in the development of the business.

Proxama was going through a period of transition and My Business FD assisted with planning and financial matters, acting as a sounding board on all things commercial across the business.

We also helped Neil formulate an MBO plan to take back control of the company from itsUSowners (to whom he’d sold a majority stake a few years earlier) and advised on negotiations which resulted in a smooth exit for the owners and allowed Neil to regain majority control in the business he originally founded.

Proxama’s focus switched firmly back to growth and after several months of pitching and discussions, an angel investor was welcomed onboard, bringing considerable sector experience and contacts to help us leverage the opportunity ahead.

A better understanding and more control of the finances meant Proxama could begin to carefully expand and switch attention to a series of key strategic global relationships. With a supportive investor, a growing team and numerous market opportunities, things were going well.

Proxama was then presented with an opportunity to expand still further when they acquired the assets of a complimentary technology business, Hypertag, and went on to recruit the key members of that team.

My Business FD was key in the planning, negotiation and successful closure of the deal and now plays an even more important role in the larger combined business. As market opportunities arise faster than Proxama can deal with them, the future seems extremely bright.

What the client says:”My Business FD was the saviour of our company! Chris has provided me with excellent support and invaluable guidance behind the scenes. Without that support I’m sure the business wouldn’t be where it is today. We’re now looking forward to working even closer with My Business FD and maximising the massive potential we feel we have. I can’t recommend mybusinessFD strongly enough.”

Neil Garner, Founder and Managing Director, Proxama

What mybusinessFD says:”Neil has been a model client to work with and it’s been incredibly rewarding providing the help and guidance that has brought the company so far in the space of only 12 months. We really feel we’ve lived that journey with Neil and are looking forward to playing a continuing part in the future success of Proxama.”

Chris Chapman

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