MML has exited its investment in The Instant Group, a global leader in independent flexible workspace solutions, via a buyout backed by Bowmark Capital.
Founded in 1999, Instant provides alternative methods of office procurement and management, with specific focus on flexible workspace and medium-term lease solutions, employing 250 people in 11 cities around the world.
Its market-leading digital platform for flexible office procurement (www.instantoffices.com) and innovative managed office solutions provide an end-to-end service with fixed payment terms, cost certainty and simplicity. This allows clients to rethink workspace as helping their growth rather than just as an overhead.
During the course of MML’s investment, Instant delivered compound annual revenue growth of 30%, rapidly growing its international footprint to serve its client base. The company has also recently featured in the ninth annual Sunday Times HSBC International Track 200.
MML and management are re-investing alongside Bowmark in the transaction.
Tim Rodber said: ‘MML has been a fantastic partner for Instant and its management team, supporting rapid internal expansion and investment into the business. We have exciting plans to continue to scale the business globally to take advantage of the vast potential of the international flex market, and am delighted MML will continue to be part of that journey.’
Luke Jones, partner at MML, said: ‘During our period of investment, Instant has become a leading and innovative provider of outsourced property services, driven by an outstanding management team. We are pleased to continue our association with the business in its next stage of development.’