TECH: Palatine’s investment in Bluprintx
Armstrong provided due diligence to support Palatine’s investment in global digital transformation consultancy Bluprintx and, as part of Palatine’s investment, Bluprintx’s acquisition of commerce specialist ITG Commerce (ITG).
Headquartered in Liverpool and with presence across the US, Netherlands and Australia, Bluprintx enables productivity and revenue growth through technology, data and AI solutions in marketing, sales and service. The business supports enterprise and high-growth companies across a wide range of leading front-end technology vendors including the Adobe and Salesforce ecosystems.
The investment coincides with the completion of Bluprintx’s acquisition of US business ITG which has operations in both the US and Hungary and is a specialist in Adobe Commerce. Palatine’s investment will support Bluprintx’s ambitions for global expansion through further merger and acquisition opportunities.
Armstrong’s full scope commercial due diligence work included in-depth interviews with Bluprintx’s key clients and partners, detailed analysis of its addressable market, competitive environment, staff & talent pool, historical performance, M&A pipeline and a commercial review of its business plan. Armstrong also provided bolt-on due diligence on ITG through customer referencing.
Ifan Dafydd, Engagement Manager at Armstrong, said: “It was great to work with the Bluprintx management team, Palatine and ITG on this transaction. Bluprintx is a highly regarded front-end digital transformation provider with plenty of expansion opportunities across the marketing, sales and service technology ecosystems, as highlighted by the ITG acquisition. Palatine’s backing will help support Bluprintx’s expansion strategy and we look forward to following the business as it continues to go from strength to strength with this partnership.”
James Painter, Senior Investment Director at Palatine, said: “Andy, Tom and I enjoyed working with the Armstrong team on this transaction. The team’s industry knowledge and comprehensive commercial due diligence work helped validate our investment thesis and provided many insightful strategic and operational recommendations for the business going forward.”
Lee Hackett, CEO at Bluprintx, said “Armstrong’s work generated plenty of valuable insight for us that will help to inform and develop our growth strategy as we embark on the next stage of our journey with Palatine’s partnership. Their detailed customer referencing on ITG also validated the complementary service offering rationale behind the acquisition.”
If you are interested in talking to Armstrong about opportunities in Tech please contact:
Ifan Dafydd
idafydd@armstrong-ts.com
+44 7792 158 738