Clearwater Corporate Finance advised the owners of public sector corporate transformation partner Kendric Ash on its sale to Northgate Information Solutions UK.
Paul Newell and Nick Jones of Clearwater acted for the vendors, who were the management and employees of the business. Established in 1999, Kendric Ash works closely with local government clients to transform performance and has delivered more than £100 million in financial benefits to clients to date.
Kendric Ash’s CEO, Ken Mander commented: “Clearwater’s process helped us achieve all our objectives. I would happily recommend them as a professional firm who understand how to position a business for sale.”
The company, which employs 40 people, has its Headquarters in Wallingford, Oxfordshire. It was originally backed by a private equity investor which was bought-out by management and staff in January 2006. The company is growing rapidly and had a turnover in the year ended January 2007 of around £5 million.
Northgate Information Solutions UK is a leading provider of infrastructure solutions across the public, private and not for profit sectors.
Paul Newell said: “Northgate identified Kendric Ash as a strategic asset in a high growth sector. The acquisition will help Northgate widen its service proposition in this fast growing part of the market and bring high value-added skills into the group that it can leverage into other aspects of its business.”