In early 2021, ESM members sold part of their shareholding in Adimo, the Glasgow-based shoppable marketing platform, in a refinancing round ahead of Maven Capital Partners’ investment. The sale returned 4.6× on the shares sold (3.2× before tax relief), on an investment first made in mid-2016.
Update: the remaining shares were lost when Adimo entered Creditors’ Voluntary Liquidation in November 2025.