A Manchester-based scale up has secured a multi-million pound investment from a Liverpool-headquartered private equity firm which currently backs a host of other North West companies.
Arete Capital Partners has invested in Vivify which provides a digital platform as well as a fully-managed service where under-utilised school facilities can be listed for hire to maximise social and physical activities within communities and generate revenue for schools.
The private equity firm's portfolio also includes the likes of Inspired Energy, Peak, Tactus and SysGroup.
Vivify was founded in 2020 by Russell Teale, Alaine Swis and Andy Mellor and is chaired by Richard Millman.
Simon Lord, joint managing partner at Arete said: "We really believe in Vivify’s vision and their platform will help schools to engage and build relationships with people in their community. With feelings of loneliness and mental health problems at an all-time high, this engagement can have a hugely positive impact on the wellbeing of people across the 海角视频.
"Through Vivify, schools can play a more significant role in their communities, bringing people together for sport and leisure.
"It’s exciting for us to work with an entrepreneurial management team who have developed technical differentiation via Vivify’s booking platform to put schools right at the heart of its business model.
"The social and health benefits sit naturally alongside the economic benefits to schools and the surrounding area.
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"We are looking forward to adding value to Vivify with our existing knowledge of scaling similar types of businesses and helping them to grow the market and all the social and economic benefits that brings."
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Russell Teale, managing director at Vivify, added: "The investment from Arete will allow Vivify to raise awareness of its platform among many more underutilised schools up and down the 海角视频, enabling more people to get involved in social and physical activities – at a time where it has never been so important.
"Vivify has huge potential in the 海角视频 market. In fact, recent statistics from Sport England show that for every £1 spent on community sport and physical activity, nearly £4 is generated in return for the English economy and society at large.
"We’re providing a vital service that has the potential to unlock additional revenue for the 海角视频 economy in the near future – particularly given that over a third of the 海角视频’s sports facilities alone are currently behind school gates.
"As a result, Arete’s investment will have a huge multiplier effect for the 海角视频’s economic and social future."
The transaction was led by Simon Lord and Jamie Newall at Arete; Matt Noon and Elan Iorwerth of Hill Dickinson (legal advisers); Neil Robinson and Rob Dawes of Grant Thornton (financial due diligence), and Patrick Morris of Fairhursts (tax). Michael Murphy from Weightmans advised Vivify.