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

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Matt McNally

[email protected] 
+44 7894 736 523

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Simon Hemsley

[email protected] 
+44 7957 340 534

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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

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Brandon Matthews

[email protected] 
+44 7771 401 723

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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

Email Rupert

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

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Simon Hemsley, Partner

[email protected] 
+44 7957 340 534

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Legal Services: LDC’s investment in The Barrister Group

Armstrong is pleased to have provided Commercial Due Diligence (CDD) in support of LDC’s minority investment in The Barrister Group (TBG), a tech-enabled legal services business with established and recognised brands Clerksroom Chambers and Clerksroom Direct. 

Founded in 2001 by Harry Hodgkin and Stephen Ward, TBG has become one of the largest chambers across England and Wales and offers barristers a virtual alternative to the traditional chambers model – its innovative software allows barristers to work remotely and therefore gives greater flexibility. TBG’s direct public access platform simplifies the process in which members of the public can access a barrister; the public access market is expected to grow and TBG’s portal is well placed to benefit from this. 

Armstrong provided full CDD including in-depth interviews with TBG’s barristers and solicitors, alongside market experts including clerks and competitors. Our commercial strategy work looked at trends in TBG’s different markets and assessed possible strategies for growth, as well as providing a detailed assessment of the competitive and technological landscapes. 

Oliver Schofield, Investment Director at LDC said: “The team at TBG is bringing disruptive tech-enabled solutions to the legal market in a move that offers greater flexibility and alternative ways of working for the Bar, whilst importantly improving access to justice for the public. TBG has the potential to revolutionise the future of the Bar by offering a real alternative to the traditional chambers model and we’re excited to support the team as they continue to pursue their growth plans.”  

Jack Hibbs, Engagement Manager at Armstrong, added, “We really enjoyed working with TBG and LDC teams, and are delighted to have helped the transaction. TBG is an excellent business and feedback validated its clearly differentiated position in the market.” 

If you are interested in talking to Armstrong about opportunities in the legal services sector, please contact: 

Jack Hibbs, Engagement Manager

[email protected] 
+44 7883 296 346

Email Rupert

Rupert Cookson, Senior Consultant

[email protected] 
+44 7983 110 150

Email Simon

Business Services: August Equity’s investment in StarTraq Ltd 

Armstrong is pleased to have provided Commercial Due Diligence (CDD) for August Equity in support of its investment in StarTraq Ltd – an offence processing, licensing and permitting software business. Business Services: August Equity’s investment in StarTraq Ltd 

Founded in 1999, StarTraq’s offering automates back-end processes including traffic violations, permit offences, permit applications and environmental offences. StarTraq provides a comprehensive solution across the value chain and has very strong, long-lasting relationships with police and local authorities. 

StarTraq’s markets are continuing to grow, primarily driven by advancement in technology and favourable legislative dynamics. With August’s backing, StarTraq is well placed to fulfil its long-term growth forecasts both domestically and abroad. 

Armstrong provided full CDD including in-depth interviews with StarTraq’s customers and market experts. Our commercial strategy work looked at market trends and assessed possible strategies for growth, as well as providing a detailed analysis of the competitive landscape. 

Greg Walsh, Director at August said, “It was great to work with the Armstrong team on this transaction. We are extremely excited about the opportunity StarTraq has across its current markets and its ability to leverage its software offering in adjacent markets.” 

Jack Hibbs, Engagement Manager at Armstrong said, “We thoroughly enjoyed working alongside the StarTraq and August teams, and are thrilled to have helped the transaction. StarTraq is a high-quality business with an excellent market opportunity; we look forward to seeing the business go from strength to strength.” 

Please get in touch to discuss opportunities in the business services sector. 

Jack Hibbs, Engagement Manager

[email protected] 
+44 7883 296 346

Email Rupert

Tech: YFM Equity Partners investment in Resulting IT

Armstrong is delighted to have provided Commercial Due Diligence (CDD) to YFM Equity Partners (YFM) on its partial investment of Warrington-based, ERP consultancy, Resulting IT.

Founded in 2004, Resulting IT has established itself as a leading independent provider of ERP advisory services and project management support. A market expert in the leading platform SAP, Resulting IT is not aligned to one ERP and works with other packages such as Oracle, Workday, IFS, and MS Dynamics.

Resulting IT’s clients include Transport for London, Asda, Leeds University, and NHS 24 where it has developed a range of proprietary software tools and products to enhance service delivery.

YFM’s investment will enable Resulting IT to accelerate growth across the UK and diversify its services into a wider range of sectors without compromising the quality of delivery.

Armstrong provided full scope CDD including in-depth interviews with Resulting’s customers, as well as ERP implementation partners and market experts. Our commercial strategy work analysed Resulting’s proposition, its addressable market and potential expansion opportunities post-transaction. Our value creation workshops will build on the insights from the CDD and other DD workstreams to help form a coherent strategy for the next stage of growth.

Stuart Browne, CEO at Resulting IT, said: “Armstrong’s work will add a huge amount of value to the next stage of our growth. It has given me, and will give the team, a huge amount of pride that our hard work is valued by our clients. I’m really looking forward to evolving this into a firmer strategy.”

Laura Sisson, Investment Manager at YFM, said: “Mike, myself and the wider YFM team really enjoyed working with Armstrong on this transaction and would like to thank them for providing a comprehensive and insightful CDD report.”

Ifan Dafydd, Senior Consultant at Armstrong, said: “It was great to work with the Resulting IT management team and YFM on this transaction. The feedback from Resulting’s customers, summarised by a phenomenal NPS of 93.3, highlights the great work that Stuart and the team do for their clients in what can often be very complex projects and programmes. With support from YFM, we believe the business will continue to go from strength to strength.”

Please contact a member of the team to discuss opportunities in the Technology sector.

Ifan Dafydd, Senior Consultant

[email protected] 
+44 7792 158 738

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Mike Callow, Partner

[email protected] 
+44 7894 594 500

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Business Services: Apiary Capital’s investment in First Intuition Limited

Armstrong is delighted to have provided sell-side commercial due diligence (CDD) to support award-winning education provider First Intuition Ltd in gaining investment from private equity firm Apiary Capital. 

Founded in 2007, First Intuition delivers accountancy training to around 5,000 learners via centres in London, Birmingham, and Manchester, through online and hybrid courses. The company’s apprenticeship and commercial training both lead to qualifications and membership of four main accounting bodies with its apprenticeship provision rated ‘Outstanding’ by Ofsted.

Apiary’s investment will support First Intuition’s management team to grow the company’s apprenticeship and commercial training streams, continue its ambitions of expansion and pursue strategic acquisition opportunities.

Armstrong’s work included in-depth interviews with First Intuition’s clients, blended with an assessment of market demand and First Intuition’s competitive environment. Armstrong’s commercial strategy work evaluated the key growth drivers in the business plan to validate key investment hypotheses.

Rupert Cookson, Senior Consultant, Armstrong, said: “First Intuition is a high-quality business with an excellent track record, as shown by its ‘Outstanding’ Ofsted rating. Taking on investment will help the business to continue its growth trajectory, opening new sites across the country and growing share in a resilient market.”

If you are interested in talking to Armstrong about opportunities in the business services sector, please contact:   

Rupert Cookson, Senior Consultant

[email protected] 
+44 7983 110 150

Email Rupert

Simon Hemsley, Partner

[email protected] 
+44 7957 340 534

Email Simon

Tech: NVM’s investment in Leading Resolutions 

Armstrong is delighted to have provided Customer Due Diligence (CDD) for NVM Private Equity (NVM) to support its investment in IT and digital transformation consultancy Leading Resolutions as part of a management buyout. 

Based in Swindon, Leading Resolutions is an independent business and IT consultancy that focuses on delivering successful outcomes for clients, through Strategic Advisory, Technical Consulting, and Programme and Project Delivery services. Leading Resolutions is a trusted advisor to the boards of large and mid-sized corporates with an impressive list of blue-chip clients including Currys, The AA, Experian and EasyJet. Leading Resolutions has been named in the Financial Times UK’s Leading Management Consultants report across five categories for the past 3 years. 

The investment will accelerate Leading Resolutions ambitions to develop services whilst bringing in additional skills and experience to the team. NVM has appointed David Rolfe and Charlie Pidgeon to join the existing Board alongside Geoff Neville as Non-Executive Chair. 

Armstrong’s Commercial Due Diligence (CDD) looked at market trends and competition, assessed management’s strategy for growth, and provided a detailed overview of customer feedback.    

Charlie Mundy, Senior Consultant, Armstrong, said: “Leading Resolutions is a high-quality business which has successfully developed a valuable digital transformation skillset. Leading Resolutions and NVM have the ability to grow organically and through acquisitions, and we look forward to seeing the further, successful growth of the firm.” 

Charlie Pidgeon, NVM, said “We are pleased to have completed our investment in Leading Resolutions with the support of Mike, Charlie, and the Armstrong team. They quickly got up to speed with the core proposition and growth dynamics, which together with their extensive sector expertise gave us clear and useful insight to support our investment hypotheses.” 

Read our recent article Tech Panel: scaling up a people centric business or contact a member of the team to find out more about opportunities in the Technology Services sector. 

Charlie Mundy, Senior Consultant

[email protected] 
+44 7853 430 630

Email Simon