Hippo Digital
Park Place advised co-founder Adam Lewis and the management team of Hippo Digital, a Leeds-based digital transformation provider of user-centric design solutions to the UK public sector, on their secondary MBO backed by Exponent.
Co-founded in 2016 by Adam Lewis and Rob Coop, Hippo’s initial focus was on the delivery of Product Management and UCD to the NHS and broader UK public sector IT. Over time, the company has expanded its capabilities, both through organic growth and strategic acquisitions, positioning itself as a leader in Digital Transformation, UCD, Digital Identity, and Data Services.
Park Place supported in tailoring the management terms to best suit a people-centric business with a broad shareholder base. By first understanding the unique characteristics and objectives of the business, we were able to advise on how best to cater for these within the parameters of the transaction.
Adam Lewis, Co-founder and CEO, commented “I was sceptical about whether we needed yet more advisors in an already complex process, but within 5 minutes of our first meeting it was clear to me the value they would add. Park Place were able to present complex/abstract industry terms that are usually thrown about with abandon during these processes, in ways we could understand, which enabled us to make much better decisions for ourselves and the business. Knowing that they understood our priorities, were looking at the transaction solely through management’s eyes and their obvious experience of these types of roles provided significant confidence to the team which ultimately led us to getting the outcome that we did. They are now a trusted advisor in the truest sense – we will be in contact throughout Exponent’s investment cycle, and they will be alongside us again for the next one.”
Ben Peacock, who led the advice to management, added “Hippo is packed with talented people, many of whom will be key to the future success of the business. Partnering with a new funder always provides an opportunity for a business to ensure it has the right incentives in the hands of the right people. We worked with Adam and the SLT to ensure the management terms could deliver equity-linked rewards to Hippo’s best and brightest. It was a genuine pleasure to advise on another great Yorkshire success story.”
