Pelican invests in Unseen Group to propel growth and fuel future acquisitions
Manchester, May 2024
Unseen Group, the trading name of GradTouch Ltd, has received a landmark investment from Pelican Capital, along with a multi-million-pound acquisition facility from ThinCats. These funds will be used to accelerate organic growth and pursue strategic acquisitions in the early careers sector.
This infusion of capital equips Unseen with the resources to expand its operations and enhance its portfolio with cutting-edge Rec-Tech and Ed-Tech businesses. This will bolster their market offering and drive their strategic acquisition strategy.
Zac Williams, CEO of Unseen Group, expressed his enthusiasm: “This is a monumental moment for Unseen, a testament to our team’s unwavering dedication and the exceptional results we’ve achieved for employers, universities, and early talent candidates globally.”
He further added, “Our vision has always been bold, and Pelican Capital’s investment empowers us to swiftly put that vision into action, offering a more comprehensive and innovative suite of services to our trusted customers and partners.”
The transaction also introduces Gary Browning, former CEO of Penna plc, as the non-executive Chairman, and John Swaite, ex-CFO of Adept plc, as CFO. Richard Morrison from Pelican Capital will join the board, reflecting the strategic partnership forged through this investment.
Elliot Vickerstaff, Investment Manager at Pelican Capital, commented: “We are thrilled to support Zac and his team in building on their impressive achievements. With our investment, they are poised to create a market-leading platform in the early careers sector through a well-executed strategic buy-and-build approach.”
Additionally, this deal facilitates an exit for Maven Capital Partners, who have been instrumental in supporting Unseen since 2017.
Pelican’s investment was led by Richard Morrison and Elliot Vickerstaff, with advisory services provided by K&L Gates (Legal), Altenburg Advisory LLP (Debt), HMT LLP (Financial and Tax), PwC (Corporate Finance), Claritas Tax (Structuring), and Alembic Strategy (Management). Debt provided by ThinCats.
About Unseen
Unseen Group is a collective of brands providing opportunities and choices for the next generation of talent. The Group has made six acquisitions to date and consists of employability consultancy experts, Gradcore, digital assessment centre platform, TopScore, and leading graduate careers website, graduatejobs.com.
About Pelican Capital
Pelican Capital is a UK-based private equity firm focused on technology that invests £10-30m into UK businesses to accelerate growth, and where required, facilitate ownership change. Pelican Capital invests on behalf of family offices looking to deploy capital into high-growth UK technology businesses.