Retail software and services provider Forma Innovations has secured £8.3m in new facilities from existing funder Shawbrook to finance the acquisition of Retail Manager Solutions.
The transaction marks a key milestone in Forma’s growth strategy and reinforces its focus on delivering advanced, data-driven technology and service-led solutions for retail clients.
Founded in 1984, Forma Innovations provides software and services to survey, manage, and optimise retail spaces.
The business works with some of the UK’s largest retailers, including Sainsbury’s, Primark, and Asda, supplying business-critical systems that support efficient operations and customer experience.
Backed by investor Tern Capital since 2023, the company has experienced strong growth and is now expanding its capabilities through the acquisition of Retail Manager Solutions, which supports over 14,000 client locations worldwide.
Shawbrook structured an £8.3m funding package comprising term loans, revolving credit, and committed follow-on facilities.
The lender’s knowledge of the client’s structure and experience in the technology sector were instrumental in completing the deal.
The acquisition is expected to enhance Forma’s software offering, extend its customer base, and unlock new cross-sell opportunities.
Karthik Dasari, director at Forma, said: “Having built a strong relationship with Shawbrook, we felt confident that their team would provide a solution to meet our multiple objectives.
“Their innovative approach overcame several challenges presented by the acquisition structure, and our long-standing partnership made this a smooth transaction.”
John Palmer, senior director at Shawbrook, said: “At Shawbrook, we foster long-term, mutually beneficial relationships.
“Our commitment extends beyond initial transactions as we continuously support our clients through their growth journeys.
“In Forma’s case, we recognise their strong market position, experienced management team, and dedication to exceptional client service, which is reflected in our ongoing support.”
Pinsent Masons advised Shawbrook on the deal, with financial diligence provided by Mazars.
