Forward advises Charis Shareholders on Sale to Chiltern Capital

Forward Corporate Finance is delighted to have advised the family shareholders of Peterborough-based, Charis Grants (“Charis”) on the sale of the business to Chiltern Capital (“Chiltern”).

Charis is a market-leader in the distribution of financial support, products, and services to vulnerable households and community projects on behalf of private sector, public sector, and not-for-profit organisations.

Founded in 2003, the business was acquired by Allyson Broadhurst in 2011 and since then it has evolved and expanded its scope, services and social impact. From its roots in supporting the energy sector delivering tailored Ofgem-approved schemes, the Company has extended its services to local authorities, housing associations, charities and corporations, offering them a range of services enabling them to support the most vulnerable in society. Through Charis, organisations can distribute an ever expanding array of support such as vouchers, household appliances, furniture, winter warmth bundles, even home retrofit services. And this can be part of a bespoke managed service or self-serve through the Charis Shop.

Forward ran a competitive process to seek the right home, with interest from trade buyers, search funds and private equity. Chiltern impressed from the start with the speed of their response and willingness to work with the Company on the transition away from family ownership. As part of their process, Jessica Taplin, an experienced leader in the charity and social impact sectors, will join as CEO, and Graham Cooke, previously CEO of leading energy consultancy Zenergi, will join as Chair.

Allyson Broadhurst, commented, “Right from the first day we met them, Sarah and her team have been beside us on this journey. They took time to understand our business, prepared us well and ran an excellent process giving us some interesting choices. They have been thorough and supportive to me, my family and management team throughout.”

Sarah Moores, director Forward commented, “It has been a pleasure working with Allyson, her family and the whole management team on this transaction. The service Charis provides in accessing funding, and facilitating distribution as cash, vouchers or products to those who need it most is a great example of how partnerships can work effectively. It is a real success story for all its stakeholders.”

Legal advice to the shareholders was provided by Andrew Heeler at Hegarty.

Our services

Acquisition Support

The right strategic acquisition, well planned and well executed, can be an excellent way to make a step change towards growing your business. Organic growth is tough. However, an acquisition in the UK or abroad is no magic bullet either and needs to be carefully planned, executed and integrated.

Private Equity Transactions

The mention of private equity often scares people off, but it covers a whole range of investor types, and is often mis-represented in the media. Private equity is often synonymous with taking advantage of distressed companies, or with highly leveraged buy outs. But there is another side.