Kent Finance supports £12m MBO of
Martek Marine with strategic financial modelling
Supporting Growth:
Kent Finance’s Contribution to Martek Marine’s Buyout Deal
In September 2024, Foresight Group, the leading listed infrastructure and regional private equity investment manager, secured an £8 million investment in the £12 million management buyout (MBO) of Martek Marine Ltd. To support the deal, Kent Finance delivered the financial modelling that underpinned Foresight’s investment decision, facilitated lender discussions, and enabled a smooth financial transition for the business.
Financial support through a complex transaction
Headquartered in Yorkshire, with operations in the UK and Singapore, Martek Marine is a globally trusted provider of safety, performance, and crew welfare solutions for the maritime industry. Since the company was founded in 2000, Martek has grown from a team of 3 people to employ 60 specialists serving an international customer base. A two-time recipient of the Queen’s Award for Enterprise, Martek has a strong market reputation, generating revenue of £11.6m and profit before tax of £1.4m in 2023.
Nick Mettyear, Investment Director at Foresight Group, said:
Financial modelling that
instils confidence
Kent Finance supported Foresight Group with critical financial advisory services during the transaction, enabling a high-confidence investment and financing strategy. This included producing a financial model that integrated data from across the business to create a 5-year detailed monthly financial forecast. As well as ensuring the financials could withstand heavy scrutiny, the model enabled the team to conduct live scenario performance analysis quickly, ensuring the deal met the needs and expectations of potential lenders.
Built using Kent Finance’s robust and collaborative modelling process – beginning with strategic interviews and culminating in a fully integrated model – the tool consolidated P&L, cash flow, and balance sheet projections, while accommodating complex KPI tracking, covenant compliance metrics, and valuation analytics. By following a clear, structured approach from scoping and strawman design through to testing and handover, Kent Finance delivered a model that is not only investor-grade but futureproofed for management’s ongoing use.
Positioning the business
for growth
As part of the acquisition process, the Foresight team works closely with founders and management teams, helping to build resilient, strong businesses and grow potential. This close working relationship, combined with the financial due diligence and insight offered by Kent Finance, was strategically positioned to support Martek to achieve its growth ambitions.
“The Kent Finance team were highly responsive and efficient and worked collaboratively with all stakeholders. The model and cash flow forecast they delivered will continue to add value to the Company as we look to drive growth.” Nick Mettyear, Investment Director, Foresight Group
To further support the negotiations, the Kent Finance team produced a 13-week cash flow forecast. Based on two years of data, the forecast provides a comprehensive picture of the value, frequency, and timing of incoming and outgoing payments. Using the tool, the team can project the company’s cash position across a rolling period, offering an accurate, timely, and easy-to-understand view of current and short-term future liquidity.
William Napier Fenning, Director and Senior Consultant at Kent Finance, commented:
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