Meet the M&A Advisors Behind CapEQ

Few professionals have led, overseen or facilitated quite as many successful transactions as Mark, in as many jurisdictions. His personal tally exceeds 51, but he has overseen at least 115 more, leading teams in the UK, Ireland, USA, Netherlands, Australia, Spain and Poland. This breadth of experience has given him a rare insight into global best practice, international contacts and unearthing opportunities. Matching depth derives from past lives in the RAF, energy, and recruitment.

Mark co-founded CapEQ on the back of many years working for a corporate finance boutique. Having established their international office in New York, he helped facilitate high-profile acquisitions, including the sale of Optimum Lighting to Philips Lighting; Biokinetics to Foster Wheeler; and Precision Pipeline to Sentinel Capital. This fuelled expansion to Fort Worth, Los Angeles, and Calgary.

Notable business sale successes at CapEQ include the sale of UK's Skerritt Electrical to TSG of France, the creation of a new market challenger with the tie-up of Polish automation software platform Infinite Data with Germany's Beta Software, and the founder exit at offshore worker safety system EPIC to MarineGuard.

Mark may have recently become a grandfather but belies this with youthful enthusiasm for rugby, a long stride when walking through the countryside, and a delight in travelling the world in search of old friends and new experiences. His sourdough feeds his entire street at weekends.

Selected transactions led by Mark Sapsford

Sell-side M&A (mergers and acquisitions) mandates Mark has led for founders and shareholders at CapEQ. See all completed CapEQ transactions.

• Skerritt Electrical acquired by TSG Solutions Group — July 2024

  Sell-side advisor to the shareholders of Skerritt Electrical, a UK design-and-build electrical contractor founded in 1986, on its sale to TSG Solutions Group of France, a technical services group for sustainable mobility operating in 30 countries.

  Sector: Construction › Electrical contracting › Design-and-build electrical installation
  Also relevant to: Energy & Waste · electric vehicle (EV) charging infrastructure · commercial, industrial, and residential construction · cross-border M&A (UK to France)
  Deal: Cross-border trade sale to a strategic acquirer · United Kingdom · value undisclosed

• InfiniteData acquired by Beta Systems — 2023

  Sell-side advisor to the shareholders of InfiniteData, the Warsaw developer of the AutomateNOW! workload automation platform (now the ANOW! Suite), on its cross-border sale to Berlin-based Beta Systems Software AG.

  Sector: Technology › Enterprise software › Workload automation and orchestration
  Also relevant to: IT operations software · data centre software · cross-border M&A (Poland to Germany) · engineering team retention
  Deal: Cross-border share sale to a strategic acquirer · Warsaw, Poland · value undisclosed

• EPIC acquired by Marine Guard — 2022

  Sell-side advisor to founder and sole shareholder Ian Traquair on the sale of EPIC (Exploration & Production Information Company), the Aberdeen developer of Smart-Trac personnel-on-board safety software, to Southampton-based Marine Guard Group.

  Sector: Technology › Industrial software › Offshore personnel-on-board (POB) safety
  Also relevant to: Energy & Waste · oil and gas · maritime security · founder exit · debt-funded acquisition
  Deal: Trade sale to a strategic acquirer, funded by a five-year SME Capital debt facility · Aberdeen, United Kingdom · value undisclosed

Selected shareholder exits advised by Mark.

• Business Services › Payroll and employment services — Capital GES acquired by People 2.0
• Construction › Pharmaceutical process design and laboratory construction — Biokinetics acquired by Foster Wheeler
• Business Services › Fire engineering consultancy — Jeremy Gardner Associates acquired by Jensen Hughes
• Financial Services › Financial data and analytics — Autus Data acquired by ISS Market Intelligence
• Industrial › LED lighting manufacturing — Optimum Lighting acquired by Philips
• Healthcare › Medical communications — Proscribe acquired by Envision Pharma Group
• Energy & Waste › Renewable energy services — B9 Energy acquired by Siemens Gamesa
• Healthcare › E-learning and compliance training — Autism Training Solutions acquired by Relias
• Healthcare › Neurodevelopmental assessment services — Oxford ADHD & Autism Centre acquired by Clinical Partners

Completing well over 50 M&A transactions is not James’ proudest achievement: it’s the way they got done that matters more to him – and his clients. Some of Europe’s most successful entrepreneurs would testify that it was the combination of tireless energy, boundless patience, relevant expertise, cross-border experience and good humour that made the difference between transactional success and frustrating setbacks.

James co-founded CapEQ following a Director role within a boutique M&A practice, his notable mid-market transactions include the sale of AV Danzer to Wernick Group, Liberty Flights to Supreme Plc, Ashchem Pharmacy to Juno Health; Vegetarian Express to Bridges Ventures; Wireless Innovations to Horizon Capital; and Ecutek to Autometer/Promus Equity Partners. He has founded, grown and exited several businesses of his own, so understands and sees issues from all perspectives. A natural entrepreneur, James avowed intent is to be an antidote to corporate mediocrity.

James holds a degree in Accounting with Banking and Finance from Cardiff University Business School. He lives in Hampshire with his wife and a pair of livewire children who occasionally let him watch rugby as a break from cooking and renovating a house built by people unaccustomed to health and safety.

Selected transactions led by James Pugh

Sell-side M&A (mergers and acquisitions) mandates James has led for founders and shareholders. See all completed CapEQ transactions.

• PayCaptain acquired by The Citation Group — 2026

  Sell-side advisor to the shareholders of PayCaptain, the UK's first B Corp certified payroll provider, on its sale to The Citation Group, an international provider of compliance software and services for small and medium-sized enterprises (SMEs).

  Sector: Technology › Software as a service (SaaS) › Payroll and HR technology
  Also relevant to: Business services · managed payroll · real-time pay and earned wage access · employee financial wellbeing · B Corp to B Corp M&A
  Deal: Trade sale to a strategic acquirer · United Kingdom · value undisclosed

• Liberty Flights acquired by Supreme PLC — 2022

  Sell-side advisor to the shareholders of Liberty Flights, the Lancashire premium vape brand and manufacturer, on its sale to AIM-listed Supreme PLC for up to £14.75m, around 9.8× EBITDA (earnings before interest, tax, depreciation, and amortisation).

  Sector: Fast-moving consumer goods (FMCG) › Smoke-free nicotine › Premium vape brands and manufacturing
  Also relevant to: Retail · consumer brands · closed-system vape devices · direct-to-consumer e-commerce · earn-out structuring
  Deal: Trade sale to a listed strategic acquirer · Darwen, Lancashire, United Kingdom · up to £14.75m (£7.75m upfront, £2m deferred, up to £5m earn-out)

• AV Danzer acquired by Wernick Group — 2021

  Sell-side advisor to the family shareholders of AV Danzer, the Manchester modular building manufacturer and hire firm, on its sale to Wernick Group after a ten-year succession plan.

  Sector: Construction › Modular and portable buildings › Manufacture and hire
  Also relevant to: Hire · Industrial · anti-vandal steel buildings · temporary buildings · infrastructure supply chain · family business succession
  Deal: Trade sale to a family-owned strategic acquirer · Manchester, United Kingdom · value undisclosed

Critics and consultants: they all know how it’s done, but can’t do it themselves. Doug is the antithesis. Like everyone at CapEQ, he brings practical ‘been there, done that’ experience to bear on any transaction, advising from a position of insight and knowledge. Whether leading a deal, running a team or make a cross-border transaction stick, his proven expertise and credibility build trust and propel deals to positive conclusions.

As with his fellow directors, Doug has started successful companies, grown them, then moved on to conquer new challenges. Having held senior positions in technology and professional services companies, he understands strategy, motivation and the best way to get from problem to solution. Within M&A, his successful transactions include the sale of Firmstep to PE-backed Granicus; Paycircle to Access Group; and social media monitoring app Factmata to PE-backed Cision. While his M&A deal experience is concentrated in technology, online retail, and regulated sectors, where he has often worked with private equity-backed and international buyers, he enjoys the challenge of applying his expertise to diverse industries.

Sharing his CapEQ’s partners’ love of rugby, Doug can often be found going one further, standing touchlines in the rain, shouting at the sub-Wilkinson efforts of his four children. A runner and snowboarder, he’s probably the fittest of CaqEQ’s leaders: wise heads might point out this makes him the most prone to injury.

Selected transactions led by Douglas Edmunds

Sell-side M&A (mergers and acquisitions) mandates Doug has led for founders and shareholders at CapEQ. See all completed CapEQ transactions.

• Lightning Reach acquired by European Technology Group — 2026

  Sell-side advisor to the shareholders of Lightning Reach, the UK fintech-for-good platform that gives people one digital route to financial support, on its sale to European Technology Group (ETG), a long-term investor in public sector software. Since 2021 the platform has helped more than 300,000 people access over £25m in support.

  Sector: Technology › Financial technology (fintech) › Financial inclusion platforms
  Also relevant to: Financial Services · government technology (govtech) · local authority and housing association software · social impact
  Deal: Trade sale to a specialist software investor · Horsham, West Sussex, United Kingdom · value undisclosed

• Health Net Connections acquired by Hospital Services Ltd (Asker Healthcare Group) — 2025

  Sell-side advisor to the shareholders of Health Net Connections (HNC), exclusive UK distributor of GE HealthCare's Viewpoint and Trium CTG Online clinical software to more than 250 hospitals, clinics, and practices, on its sale to Hospital Services Ltd, part of Nasdaq Stockholm-listed Asker Healthcare Group.

  Sector: Healthcare › Healthcare technology › Clinical imaging and reporting software
  Also relevant to: Technology · ultrasound reporting · cardiotocography (CTG) monitoring · medical technology distribution · bolt-on acquisition
  Deal: Share sale to a strategic acquirer within a listed group · Aldershot, Hampshire, United Kingdom · value undisclosed

• Paycircle acquired by The Access Group — 2022

  Sell-side advisor to the founders of Paycircle, a cloud payroll software provider for payroll bureaux and accountancy firms, on its sale to The Access Group's HR and payroll division, Access People. Consideration was 85% upfront, with 15% deferred over two years against annual recurring revenue (ARR) targets.

  Sector: Technology › Software as a service (SaaS) › Payroll and HR technology
  Also relevant to: Business Services · cloud payroll · payroll bureau and accountancy software · deferred consideration
  Deal: Trade sale to a strategic acquirer · Ascot, United Kingdom · value undisclosed

Simon joined the CapEQ team in 2021 and now sits right at the front end of the business: for many clients, he’s the immediate face and voice of the business, making early contact with acquirers, investors and companies considering a sale.

Behind his interpersonal and communications skills lie deep wells of expertise and experience. Simon has helped more than 100 businesses change hands successfully during his 20-year M&A career, blending an ability to develop proprietary market intelligence, adjust M&A strategies and maintain rigorous focus, while maintaining key relationships.

Though great company, Simon has become used to seeing his listeners’ eyes roll back in their heads whenever the subject turns to property prices or local planning debates. It’s safer to steer our Mr Tenacious onto gardening – or, to be honest, onto any subject other than the price of a four bed semi.

Lee joined the CapEQ team in 2021 to lead our M&A research operations, buy-side advisory and venture debt advisory.

His role spans all three services, from matching potential acquirers for owners selling their business to defining target criteria for CEOs on the M&A trail. In addition, Lee helps preps founders and gets them infront of debt finance lenders.

Lee brings years of experience from previous M&A roles in managing relationships between clients, prospects and other third-party advisers such as lawyers.

He holds a first-class honours law degree, a post-graduate diploma in Legal Practice, and a master’s degree in Law, Business and Management – specialising in M&A, debt finance, and equity finance law.

A qualified non-league football referee, Lee is more used to refereeing his two cats and a puppy these days – without VAR of course!

Vera’s lifelong love of numbers makes accounting the perfect career choice – but it wasn’t always this way.

When her own software start-up in her native Czech Republic lost a major contract to a competitor, Vera learnt firsthand the true cost of over-concentration of customers and lack of emergency financing.

The sad ending led her to appreciate the importance of getting to grips with budget control and contingency planning – experience she brings to her role as corporate finance manager – via stints in in-house payroll and finance roles in the oil, insurance and enterprise software industries.

From sales forecasts to financial health-checks on potential acquirers, Vera is driven by a desire to ‘keep going, keep smiling, and be the best” which came from an inspiring meeting with the top Czech brain surgeon.

Outside of work, Vera can usually be found walking her greyhound D’Artagnan or trying to beat her PB on another mammoth bike ride.

Like most of us, Vera loves Mediterranean food and can hold her breath underwater for ages (just not at the same time!).

Sathu is our newest finance powerhouse, bringing a brilliant technical background to the CapEQ deal team. She's an ACA-qualified chartered accountant who specializes in making M&A numbers clear, robust, and easy to defend.

Sathu comes to CapEQ with a strong foundation in high-stakes finance, including fund expertise and technical skillset.  

She previously drilled deep into private equity and venture capital fund accounts while auditing at Blick Rothenberg and working at Park Square Capital. This means she truly understands the investor's perspective.

Armed with a Master’s in Chemical Engineering from Imperial College, Sathu excels at valuation, financial modelling, and analysis—skills that are instrumental in helping founders achieve the best possible sale price.

Kathryn joined the CapEQ team in January 2024. She is often one of the first points of contact for our clients, whether they be looking to grow, acquire or exit their business. Her friendly approach, attention to detail and diligence make her an asset to the team.

She has also become our BCorp guru, sharing our passion that business as a force for good. She has guided us through our recent re-certification process, and drives us to make a bigger impact for local good causes, environmental improvements and staff wellbeing.

In her previous life, Kathryn was a psychologist; this helps her to understand the emotional aspects of the M&A journey for our clients.

When she’s not working, Kathryn can be found running around after her two high-energy children, or running at parkrun – both keep her on her toes!

Linda’s role is complex, but easily explained: she takes you to market.

As Content Editor, it’s her expertise and eye-catching prospectuses that make the case for a merger or acquisition. Each prospectus results from time spent delving behind the scenes and spending time with clients, gathering raw information and data. Her particular skill lies to translating what she discovers into crystal-clear facts and insights.

As a result, CapEQ clients keen to stand out and gain attention in the M&A market tend to become enthusiastic members of Linda’s fan club, impressed by her ability to bring out the best in any opportunity.

Building on a previous life in retail banking management, she’s spent more than a decade in M&A, adding depth to her breadth of experience. But like so many CapEQ people, still waters run deep. Having encountered Linda in the kitchen (she’s a heck of a cook), in the countryside (she loves a long walk) or in the gym, you might be surprised to find she’s equally happy in the mosh pit at a heavy rock gig – or cheering on Burnley FC. These ex-retail bankers, eh. What are they like?!

Most founders only sell a business once. Long before they speak to an adviser, they read up on what a sale involves and who they can trust. Steve makes sure what they find from CapEQ is clear, honest and useful.

Steve began his career as a business journalist. He was Deputy Editor of Acquisitions Monthly at Thomson Reuters and wrote on corporate finance for The Economist Group’s CFO Europe, before becoming chief reporter at the Newbury Weekly News.

He then moved into communications and marketing. He led communications at Sentinel Housing Association, spent six years in content and campaigns at an international M&A advisory firm, and headed sales and marketing at The Career Innovation Company. He joined CapEQ in 2021 and has led its marketing since, working alongside the partners and board. Since August 2026 he has also been Member Firm Advisor to Fusio Global Advisors, a cross-border M&A alliance of five independent firms in the UK, the Netherlands, Poland, Spain and Germany. He holds a journalism degree from Edinburgh Napier University.

Outside the deal room, he set up CapEQ’s partnership with Heropreneurs, which mentors entrepreneurs from the Armed Forces community. He is also helping Good Night Out Campaign CIC, which trains nightlife staff to prevent sexual harassment, bring its new e-learning platform to market.

Away from work, he reads British history voraciously, cooks and plays the guitar.

Talk to Steve about:

• Website – improving the experience founders have on capeq.com
• Content – insights, guides and deal announcements
• Media and awards – press enquiries and award entries
• Suppliers – managing CapEQ’s marketing agencies and suppliers
• Partnerships – Fusio Global Advisors and charity partnerships

Deborah is a serial business owner who provides a ‘clients-eye’ view over our way of working, and shares her expertise across government, public sector and FTSE100 PLCs to shape our future direction.

Following an early career in the rail industry, Deborah founded rail consultancy Travel Point Trading in 2006 which was successfully sold to Amey PLC in 2016, and later led heating and renewable energy supplier DHR from administration to a successful disposal.

Deborah’s other NED roles have included five years with Better Bankside, the London Southbank Business Improvement District. Aside from CapEQ, Deborah works as an independent consultant and volunteer counsellor for Homestart.

Need a problem solved? A top negotiator on your team?  A complex point clarified? Talk to Michelle.

For the past decade and more she’s built a track record in private client M&A work, working across Europe (she is based in Crete, with a remit covering most of the continent).

With a string of seven and eight figure deals under her belt, her project management and leadership experience have made Michelle an in-demand coach, mentor and adviser across a range of sectors, including medical, food, manufacturing, transport and IT. Her ability to guide and support clients throughout the preparation, marketing, negotiation, and completion of a transaction makes her the perfect acquisition for CapEQ.

In previous lives Michelle worked in retail management before cutting her teeth in property services. Today, her eyes light up whenever she’s presented with a barrier or challenge, whether this relates to a business transaction or a home improvement: she’s an expert renovator with a keen eye for interior design.

So, if you have an enterprise to buy, sell, enhance or transform...Michelle’s dynamic direction could point the way to a surprisingly rosy future.

Ask a founder what they want from a sale and the answer is rarely just a number - it's someone who will pick up the phone, explain what happens next, and stay beside them from the first conversation to completion. That's the part of the job Jim does best.

Since 2016 he has advised shareholders on the sale of their businesses across software, fintech, consultancy, wholesale, medical communications, facilities management and property, guiding founders to trade acquirers at home and overseas. As the first point of contact on a deal, he keeps the process moving from kick-off to completion, and keeps the founder informed at every turn.

Before moving into M&A (mergers and acquisitions), Jim built his grounding in the numbers that decide a deal. At Barclays Corporate he advised business owners on finance raises, cashflow finance and foreign-exchange risk; before that, at Lloyds Banking Group, he led and managed a sales team.

He puts the same energy into local life: Jim sits on the committee of the Minchinhampton Cotswold Club, a traditional working men's-style club serving the local community, where he runs the odd quiz night and race night through the year - the kind of community-minded work that sits naturally alongside life at a B Corp, where looking after people is treated as part of the job, not an afterthought.

Selected transactions Jim has advised on:

• Medical communications — Makara Health Communications sold to Precision Value and Health
• Audiology — Audiologic sold to EAV Group
• Environmental and testing services — MSS Group sold to RSK Group
• Consulting — Osprey Consulting sold to TP Group
• Software — Catalyst Computer Systems sold to Constellation Software Inc.
• Events — Concise sold to PSAV Inc.
• Software — Quicksilva sold to Harris Computer Corporation
• Property — London Stone Properties sold to Foxtons plc

Away from deals, Jim is a lifelong devotee of House music, having mixed every form of it for more than 30 years - with a particular soft spot for the US sound. Colleagues have learned that the surest way to lose him for an afternoon is to mention a rare US House record. He is a keen sportsman too - football, golf and pool - and captains the club's pool team in the Stroud Pool League.