Industrials: Supporting the acquisition of Checkmate Fire by IK Partners
Armstrong is pleased to have provided sell-side Commercial Due Diligence support to fire protection specialist Checkmate Fire (Checkmate) on its sale to IK Partners.
Founded in 1989 with headquarters in Elland, Checkmate is the UK’s largest passive fire protection specialist providing a comprehensive range of fire protection services to businesses across the healthcare, education, government, social housing, and commercial sectors.
Checkmate operates across the UK and has over 200 employees. The Company is responsible for maintaining passive fire systems in around 2,000 buildings to ensure compliance with increasingly stringent regulations, carrying out over 30,000 fire door remediations or replacements per year.
The acquisition will allow Checkmate to further develop its passive fire offering and continue to invest in its people and technology whilst executing a targeted M&A strategy.
Armstrong provided full scope vendor CDD which included in-depth interviews with market experts, a detailed assessment of Checkmate’s passive fire safety market, how its competitive environment is evolving, and in-depth interviews with customers. We validated Checkmate’s growth plan, which presents exciting opportunities across its core end-sectors.
Please get in touch to discuss opportunities in the Industrial and Built Environment sectors.
Matt McNally
[email protected]
+44 7894 736 523
Brandon Matthews
[email protected]m
+44 7771 401 723
Tech: LDC’s investment in 15below
Armstrong is delighted to have provided sell-side commercial due diligence (CDD) to support 15below, the travel industry’s leading provider of automated passenger communications software, on its investment from private equity firm LDC.
Brighton-based 15below was established in 2000 and has become a market leader in hyper-personalised, automated passenger communications. Its platform supports more than 60 of the world’s best known airlines, rail operators, and travel management companies, offering real-time operational updates including booking confirmations, boarding passes, and disruption alerts to passengers.
Armstrong’s work included in-depth interviews with 15below’s clients and partners, detailed analysis of the market and competitive environment, and an assessment of potential adjacent opportunities. Armstrong’s commercial strategy work also evaluated the key growth drivers in the business plan to validate the investment hypotheses.
With plans of accelerated growth, the partnership forms part of a strategic move to enhance 15below’s proprietary software and expand its client services, with ambitions to deliver an even greater number of innovative solutions that meet the evolving needs of global travel companies and their customers.
Nicholas Key, CEO at 15below said: “The Armstrong team was great to work with. They quickly understood our business and the complex industry dynamics, and were responsive and helpful throughout the process. The report produced for us has been invaluable for the business up to this point, and the insights gained will continue to have an impact on our decisions going forwards.”
Jack Hibbs, Engagement Manager at Armstrong said: “15below is a high-quality business with an impressive management team and excellent opportunity for growth; taking on investment will help the business continue its trajectory. We really enjoyed working with the 15below and Clearwater teams, and very much look forward to seeing the success of the business going forward.”
If you are interested in talking to Armstrong about opportunities in the Tech or Travel sectors, please contact:
Mike Callow
mcallow@armstrong-ts.com
+44 7894 594 500
Jack Hibbs
jhibbs@armstrong-ts.com
+44 7883 296 346
Federico Romanelli
fromanelli@armstrong-ts.com
+44 7908 906 907
Tech: Codestone’s investment in Cloud Business
Armstrong is pleased to have provided Voice of the Customer Due Diligence to FPE backed business and digital solutions leader Codestone Group (Codestone), in support of its acquisition of Cloud Business Limited (Cloud Business), an award-winning digital transformation and IT-managed services consultancy.
Basingstoke based Cloud Business, operates an end-to-end cloud consultancy team who have delivered hundreds of successful Microsoft transformational projects from Azure, Modern Workplace, and Cybersecurity across 15 sectors in the UK and worldwide. Their services encompass assessment, strategy design, integration, deployment, and post-go-live managed support services.
The acquisition aims to further enhance Codestone’s offering of IT consulting and transformational services to new and existing clients through a dedicated team comprising hundreds of skilled experts.
If you are interested in talking to Armstrong about opportunities in the Tech sector, please contact:
Ifan Dafydd
[email protected]
+44 7792 158 738
Professional Services: Armstrong supports NorthEdge’s investment in Contollo Group
Armstrong is delighted to have provided commercial due diligence (CDD) to NorthEdge Capital (NorthEdge) in support of its investment in Contollo Group (Contollo), a newly formed built environment consultancy.
Contollo specialises in consultancy services across a range of sectors, supporting clients with their regulatory and sustainability targets; NorthEdge’s investment will allow Contollo to undertake a UK-focused buy and build strategy. Upon completion, Contollo secured its first acquisition of Abacus, a Manchester-based cost management consultancy.
Armstrong provided focused CDD which included in-depth interviews with market experts, an assessment of the wider construction market and a detailed review of the cost management and mechanical & electrical (M&E) consulting segments, alongside analysis of the competitive landscape and a review of buy-and-build strategies in the sector.
Liam May, Director at NorthEdge said: “It was great to work with Armstrong; the team’s excellent work validated our investment thesis and the CDD report was high quality. Solomon, Jack and Rupert also provided valuable insight into M&A in the sector to inform and develop our growth strategy.”
Jack Hibbs, Engagement Manager at Armstrong said: “We really enjoyed working with Contollo and NorthEdge, and are pleased to have assisted on this transaction. Contollo and Abacus have impressive management teams, and market conditions mean this is an exciting opportunity for growth. We very much look forward to seeing the success of the business going forward.”
If you are interested in talking to Armstrong about opportunities in the professional services sector, please contact:
Soloman Ishack
sishack@armstrong-ts.com
+44 7943 036 633
Jack Hibbs
[email protected]
+44 7883 296 346
Rupert Cookson
rcookson@armstrong-ts.com
+44 7983 110 150
Financial Services: Supporting the acquisitions of Garfield-Bennett and Sanctuary by Summit Group, backed by Sovereign Capital
Armstrong is pleased to have provided due diligence to Sovereign Capital Partners (Sovereign) in support of two acquisitions by the Summit Group – Garfield-Bennett in December 2023 and Sanctuary in January 2024.
Jersey-based Garfield-Bennett was established in 1995 as Garfield-Bennett English Solicitors. In 2004 Garfield-Bennett Trust Company Ltd was created to manage trust and company services. It has since built a diverse international client base, including corporate entities, high-net-worth individuals, families, and institutions, and become one of the most reputable and trusted providers in the Jersey financial sector.
Established in 2019 as a boutique advisory firm, Sanctuary is now a market-leading provider of services to entrepreneurs and families in the UAE, offering a comprehensive range of fiduciary, tax and advisory services that cater to the unique and complex requirements of clients in the region.
Summit Group is a leading independent provider of fiduciary and administrative services. The addition of Garfield-Bennett and Sanctuary broadens the range of services the combined group can offer to clients, and increases the group’s international presence. Summit Group now has offices in the Cayman Islands, Guernsey, Jersey, Switzerland and the UK, as well as in Dubai, Abu Dhabi and Saudi Arabia. The Middle East is a high growth market for fiduciary services, and the addition of Sanctuary represents a strategic move to capitalise on the burgeoning opportunities within the region.
Sovereign’s investment will drive Summit Group’s ambition to build a selectively global fiduciary group capitalising on the growth market for fiduciary services.
If you are interested in talking to Armstrong about opportunities in the Financial Services sector, please contact:
Rick Romanelli
[email protected]
+44 7908 906 907
Human Capital: Armstrong supports Mobeus’ investment in Ellis Recruitment Group
Armstrong is delighted to have provided commercial due diligence to Mobeus Equity Partners in support of its investment in Ellis Recruitment Group (Ellis), a leading technology recruitment consultancy.
Founded in 2010 and headquartered in Woking, Ellis has grown to become a key player in the Oracle and SAP ecosystems. Ellis has established a strong presence in Europe and North America, its proprietary database of consultants build deep, ongoing relationships with clients. across different industries and geographies.
Armstrong provided full buy-side CDD support for Mobeus’ investment in Ellis, including the addressable market and growth opportunity in its key ecosystems, how its competitive environment is evolving, and in-depth interviews with clients and candidates. We validated Ellis’ growth plan, which presents exciting opportunities globally in Oracle and SAP
Armstrong looks forward to seeing the business continue its positive growth trajectory in both Oracle & SAP recruitment in Europe and US, led by an impressive management team and the backing of Mobeus.
If you’d like to speak to our team about our view on the Human Capital sector, please contact:
Rupert Cookson
[email protected]
+44 7983 110 150
Matt McNally
[email protected]
+44 7894 736 523
Simon Hemsley
[email protected]
+44 7957 340 534
Industrials: Supporting the acquisition of NSP
Armstrong is pleased to have provided Commercial Due Diligence to Total Integrated Solutions (TIS), backed by Key Capital Partners (Key), in support of the acquisition of Nationwide Specialist Projects (NSP).
Based in Kidderminster, NSP is a market leader in the smoke and ventilation industry, dedicated to enhancing industry standards through innovation and technical advancements. With 13 years of experience, NSP provides an extensive range of next-generation solutions, encompassing smoke ventilation systems and project management services.
The acquisition will allow TIS to expand its current fire services to new and existing customers, whilst strengthening its core capabilities and providing opportunities to enter other high-growth sectors such as high-rise residential safety.
Armstrong carried out a focussed piece of CDD that included in-depth interviews with NSP’s customers and market experts. Our commercial strategy work looked at market trends and assessed possible key verticals for future growth, as well as providing a detailed analysis of the overall macro-economic and sector landscape.
Hannah Kirkup, Investment Manager at Key said, “The acquisition of NSP brings a complementary offering to TIS and we are excited about what the future holds for the group. It was a pleasure to work with the team at Armstrong and the CDD process was seamless.”
Brandon Matthews, Senior Consultant at Armstrong said, “We thoroughly enjoyed working alongside the NSP, Key, and TIS teams, and are thrilled to have helped the transaction. NSP is a high-quality business, with an excellent market opportunity. NSP and TIS have the ability to grow organically, and we look forward to seeing further, successful growth of the business.”
Please get in touch to discuss opportunities in the Industrials sector.
Matt McNally
[email protected]
+44 7894 736 523
Brandon Matthews
[email protected]
+44 7771 401 723
Human Capital: Armstrong supports Aliter’s investment in Jumar
Armstrong is pleased to have provided Commercial Due Diligence (CDD) to private equity firm Aliter Capital LLP (Aliter) in support of its investment in Jumar, a tech talent, digital transformation and technology solutions business.
Founded in 2000, with headquarters in Solihull, Jumar has developed a reputation for delivering innovative technology solutions. Jumar’s team of technology experts work with customers across the public and private sectors, providing digital transformation, technology solutions, project outcomes, augmenting in-house resources, and identifying skilled talent to support their customers’ technology and business needs.
The deal is consistent with Aliter’s investment strategy of acquiring and integrating smaller businesses, with ambitions of creating a specialist technology resourcing and solutions group in the UK.
Armstrong carried out a focused piece of CDD to support Aliter’s investment, consisting of detailed interviews with Jumar’s key clients. Interviews focused on answering Aliter’s key questions with respect to the strength of Jumar’s client relationships, its performance and differentiation versus competitors, and the growth potential with existing accounts.
James Davies, Investment Director at Aliter Capital, said “It was great to work with the Armstrong team on this transaction. Their report gave us confidence in the strength of Jumar’s client relationships and the growth potential of the business. We look forward to working with them again in future.”
Please get in touch to discuss opportunities in the Human Capital sector.
Matt McNally, Director
[email protected]
+44 7894 736 523
Human Capital: Supporting the acquisition of Tempdent by Knovia Group, backed by Sovereign Capital
Armstrong is pleased to have provided Commercial Due Diligence (CDD) to Sovereign Capital Partners in support of the newly created Knovia Group’s acquisition of Tempdent.
Backed by Sovereign, Knovia is a market-leading commercial training business specialising in the healthcare and educational sectors, including existing Sovereign portfolio company Paragon Skills.
Tempdent is the leading specialist in dental training in the UK, delivering high-quality apprenticeships, post-registration qualifications, CPD, and recruitment services for aspiring dental professionals.
The deal will accelerate Knovia’s ambition to become the leading provider of healthcare and education training in the UK through organic growth and further strategic acquisitions.
Our voice of the customer exercise tested the strength of Tempdent’s key customer relationships and explained its differentiators. We helped Knovia and Sovereign get a better understanding of Tempdent’s value to its students and customers, and validated its delivery of high quality apprenticeship training and pastoral support.
Sophie Zgraja, Consultant, said: “We think Tempdent is a fantastic business, and its customers gave very complimentary feedback. It’s a great fit with Knovia and we look forward to seeing the businesses growing together.”
If you are interested in talking to Armstrong about opportunities in the Human Capital sector, please contact:
Sophie Zgraja, Consultant
[email protected]
+44 7884 441 840
Simon Hemsley, Partner
[email protected]
+44 7957 340 534