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You've built a great business. We'll make sure it thrives.

We invest in founder-led B2B services firms and corporate carve-outs drawing on our own experience of building, scaling and exiting businesses.

ABOUT US

EST Partners is an operational investor focused on founder-led or corporate ownned B2B services businesses in UK and US.  We follow strict investment criteria:

  • B2B services focus: financial services, real estate services and procurement services.

  • High client retention and deep domain expertise.

  • Clear pathways to growth.

  • High integrity founders and management.

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Structure & Style:

  • Minimum £3M revenue; no profitability requirement.

  • Majority preferred; significant minority with protections.

  • Day 1 cheques from £500k – £5M (up to £25M with co-investment).

  • Direct co-investments up to £3M.

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Value-Add / What We Bring:​

  • Operator-led governance from founders who've built, scaled, and exited.

  • Immediate founder liquidity event at close.

  • Growth capital for strategic bolt-on acquisitions.

  • Proprietary automation toolkit™ deployed from Day 1.

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TEAM

Henry Smithers

Prior to EST Partners, Henry led the UK Business Services M&A team at Duff & Phelps, where he focused on professional services sector transactions, helping shareholders of mid-sized consultancies on mergers, acquisitions and recapitalisations. Henry also led the European Financial Sponsor coverage team.  

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Prior to Duff & Phelps, Henry was co-founder of a VC-backed mobile loyalty platform. Prior to this, Henry was an investment director at Starwood Capital Group covering UK and Nordic investments.  Henry started his career in M&A at Gleacher (New York, London) and JPMorgan Cazenove (London).  He holds a first class honours degree in Economics from the University of Sydney and an MBA from INSEAD.

Matthew Eatough

Prior to EST Partners, Matthew founded and led Proxima Group and was chairman of the board up until its sale to Bain & Company in 2022. Proxima is a specialist procurement advisory platform with operations in Europe and US. Over the past 20 years, Proxima has grown to be recognized by Fortune 500 corporates for its domain expertise and IP-led delivery. With over 230 consultants, it is one of the world’s largest procurement consultancies.

 

Prior to Proxima, Matthew founded and exited buy.co.uk (sold to uSwitch) and has been active in the development of supply chain analytics software. He is also chairman of Meronimi and a board member of Flow & Ebb.

Mark Sherfield

Mark was CFO of BDO LLP from 1999 until 2020 including a term as COO from 2010 to 2016. He joined BDO Stoy Hayward in March 1999 with the merger of Moores Rowland where he had been a Corporate Advisory partner from 1988 – 1997 and Finance Partner (CFO) from 1997 – 1999.  He qualified as ACA in 1986.

 

Mark has overseen 11 mergers and acquisitions of professional services firms and also managed financial reporting to some 250 equity partners

SENIOR ADVISORS

Georgina Penfold

Georgina is a Senior Advisor to EST in respect to UK energy and renewable services. 

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Georgina previously worked at Inspired PLC as Group Director and member of the Senior Leadership Team where she led commercial strategy for all brands under the Inspired PLC group.  She currently sits on the board of BSRIA.

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Georgina holds an Executive MBA from INSEAD and a Masters in Energy and the Environment from Leeds University

Tanmay Datta

Tanmay is a Senior Advisor to EST in respect to financial services.

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Prior to EST, Tanmay worked at Ashington Capital, an UK search fund, where he helped with origination and execution of MBI transactions.

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Tanmay recently completed his MBA at Judge Business School, University of Cambridge.  Prior to his MBA, Tanmay gained 10 years' experience in operating and financing infrastructure projects around the world at both NABARD and Damodar Valley Corporation.

Guy Strafford

Guy is a Senior Advisor to EST in respect to procurement services and technologies.

 

Guy is current chair of OneSupplyPlanet, Argus Cognitive, Anddine.co.uk and Carbon Quota.  He was a director and co-founder of Proxima, the procurement consultancy, prior to its successful sale to world leader consultancy Bain and Co.

Guy is a fellow of the Institute of Chartered Accountants; and fellow and ex trustee and audit chair of the Chartered Institute of Purchasing and Supply.

SECTOR FOCUS

Financial Services. 

Real Estate and Facilities Services.

Energy, Renewable & Waste Services.

Pension administration

Regulatory compliance

Wealth management and planning

Trust and corporate services

Property management 

Property surveying

Security, fire & electrical

Energy broking

Waste management and recycling

Sustainability auditing

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