Frenkel Topping Group acquired by Harwood Private Equity

Harwood Private Equity LLP finalised the take‑private of Frenkel Topping Group plc, an enterprise value of . The transaction, completed in July 2026, was executed through Irwell Financial Services Bidco Limited, a newly incorporated vehicle owned indirectly by funds managed by Harwood, and implemented via a court‑sanctioned scheme of arrangement under Part 26 of the Companies Act 2006. Shareholders were offered a cash consideration of 50 pence per ordinary share together with a contingent value right, while an alternative package of cash and securities in the acquiring vehicle was also made available. The financing structure combines a senior bank facility from Santander with equity and loan‑note subscriptions from the Harwood Funds, reflecting a typical leveraged‑buyout profile. Frenkel Topping Group plc, which reported revenue of £41.7M, provides specialist financial advice and investment management to individuals involved in personal injury or clinical negligence claims. By moving into private ownership, the company gains access to the capital required for its next phase of expansion, capital that the board had increasingly found difficult to raise as a small‑cap listed entity. For Harwood, the acquisition adds a platform in the niche specialist‑financial‑services sector to its sixth fund, diversifying its portfolio and creating a foothold for further build‑ups. Crowe served as the financial and tax due‑diligence adviser to Harwood, delivering both the financial assessment and the tax‑structuring advice that underpinned the deal. The transaction illustrates a strategic use of a scheme of arrangement to secure a clean exit for public shareholders while positioning the target for accelerated growth under private‑equity ownership.