Our Corporate Finance team advises Foresight Group on its acquisition of LionFish

Our Corporate Finance team recently provided financial due diligence to Foresight Group (“Foresight”) on its acquisition of LionFish Litigation Finance Limited from AIM-listed professional services firm RBG Holdings Plc (“RBG”).

Launched in May 2020 under RBG Holdings Plc, LionFish swiftly gained market presence and grew by teaming up with Foresight in Feb 2022. This co-investment, intended to be the first of many, boosted LionFish's funds and lessened reliance on RBG.

In December 2022, RBG announced its refocus on professional services, inviting bids for LionFish's acquisition. Foresight stood out due to its patient capital base, long-term commitment, and alignment with LionFish's vision.

Foresight's acquisition assures stability for LionFish enabling them to leverage their team, investment model, and efficiencies. LionFish will remain an independent company led by their management team, Tets Ishikawa and Tanya Lansky alongside a newly appointed board.

Tets Ishikawa, Managing Director of LionFish, said: “We would like to thank RBG Holdings Plc for their support in launching LionFish. Although we had originally envisaged the partnership to last for many years, the lessons we learnt together and RBG’s decision to refocus on professional services has given us the opportunity to find a more suitable, long-term and exciting partner. Tanya and I would like to thank both RBG and Foresight for making this transaction possible.”

Oliver Bates, Senior Private Debt Manager at Foresight, added: “We have followed the litigation finance market for several years and we have always been impressed by LionFish’s model and commercial approach. Having followed it closely over the last couple of years, it was always clear to us that Foresight could provide a stronger platform on which LionFish could fulfil its true potential. We are therefore delighted with this acquisition and are excited and confident that under our ownership, Tets, Tanya and the LionFish team will achieve their business ambitions.”

Brad McAvoy, Partner at James Cowper Kreston Corporate Finance, who led the team on this transaction commented: “We were excited to work with Foresight on their acquisition of LionFish. We are confident that this acquisition will provide LionFish with the partnership they need to continue to excel. We look forward to working with Foresight again soon.”