David Holt

The deal, which saw Smedvig invest $5 million (around £4m) in Minut, based in Malmo, is part of Smedvig’s ongoing strategy to back fast-growing technology companies in the UK, Netherlands, and Nordic regions.

Smedvig Capital invests in growing businesses in the UK, Netherlands and Nordic regions. To date, the company has invested $1.5 billion (around £1.2bn) via private equity funds and direct funding of $565m (around £450m).

Discussing Consilium’s role in the deal, Smedvig’s Freddie Kalfayan said: “It was great to have Consilium’s support on the transaction.

“Consilium worked well with both us and the Minut team and their output was high quality as always. We are looking forward to working with David Holt, Colin McCrann and the rest of the team going forward.”

Consilium corporate finance partner David Holt said: “Smedvig have a great passion for supporting fast-growing business and we share their desire to see these businesses unlock their potential.

“It was, as always, a pleasure to work with Freddie on this deal and to continue our professional relationship. Helping our clients achieve their goals is what we are all about.

“This deal is a great way to round off 2023 and our tenth year of business. We look forward to working with Smedvig again next year.

“It is a pleasure to support businesses and investors like JWF and Nevis, helping them to achieve their collective goals. Despite the difficult economic backdrop, successful Scottish businesses continue to thrive and secure the investment required to support future growth.”