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
idafydd@armstrong-ts.com
+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
jhibbs@armstrong-ts.com
+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
fromanelli@armstrong-ts.com
+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
rcookson@armstrong-ts.com
+44 7983 110 150
Matt McNally
mmcnally@armstrong-ts.com
+44 7894 736 523
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
mmcnally@armstrong-ts.com
+44 7894 736 523
Brandon Matthews
bmatthews@armstrong-ts.com
+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
mmcnally@armstrong-ts.com
+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
szgraja@armstrong-ts.com
+44 7884 441 840
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
jhibbs@armstrong-ts.com
+44 7883 296 346
Rupert Cookson, Senior Consultant
rcookson@armstrong-ts.com
+44 7983 110 150
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
jhibbs@armstrong-ts.com
+44 7883 296 346