Clearwater International has advised on the MBO of leading IT managed services and solutions provider Retail Assist. The deal sees investment from its original founders, Foresight Group and Royal Bank of Scotland, which will help facilitate its rapid growth strategy to double the size of the business over the next three years.
As a retail and hospitality specialist, Retail Assist is providing the IT managed services and software solutions behind the success of brands such as Harvey Nichols, Karen Millen, ASOS, Oasis, Coast, Warehouse, Vue Cinemas, Pizza Hut, and Cath Kidston. To date the company has achieved exceptional success with its sustained growth, impressive customer portfolio, awards heritage, and excellent talent base, allowing Retail Assist to be in a strong position for future expansion.
Retail Assist provides services and solutions across 66 countries, delivering support in 9 languages and employing 220 people who have been responsible for the company’s success.
Investment has been received from the Nottingham Fund of private equity firm Foresight Group, who manage assets of €2.7bn internationally and is headquartered at The Shard, London.
Clearwater International advised on the transaction, led by Partner Paul Newell, with support from Director Rob Burden, Associate Director Richard Ellis and Associate Haseeb Shah.
“Our investment into Retail Assist is an exciting opportunity to work with the highly-regarded Retail Assist team and we are looking forward to expanding their service and solution capabilities and adding to their already strong customer base. We have been impressed by their expertise, professionalism and ambitions for growth.”
Mike Quinn, Investor Director, Foresight Group
“The investment will provide Retail Assist and its employees much wider opportunity for growth and progression as it continues to become an even bigger player in the market. At a time when retail and technology are constantly changing the investment brings with it a springboard for growth and the opportunity for expansion, whilst remaining true to the values and approach that Retail Assist engages with its customers.”
Dan Smith, CEO, Retail Assist
“After 18 years of trading, Retail Assist has come of age. We are very proud of the success Retail Assist has achieved so far. With the investment backing and the successful foundations already laid the potential for employees and for the customers it supports is very exciting, and will enable Retail Assist to advance its services and solutions even further.”
Alan Morris, co-founder, Retail Assist
“Retail Assist is in a great position to enhance its presence in the market. Technology is playing an increasing role in today’s retail landscape and there is significant opportunity for Retail Assist to support businesses with an ever increasing demand for innovative solutions and additional services. We are pleased to have been able to support such a strong Management Team in this exciting time for the business.”
Paul Newell, Partner, Clearwater International