January 6th, 2020 / Insight posted in MKS News

Moore Kingston Smith advises managed IT services company on 5 transactions in 12 months

Moore Kingston Smith has advised Ridgewall, a provider of managed IT services, on a series of five transactions within the space of 12 months. This includes four acquisitions and an investment by Inflexion, a UK private equity firm investing in high-growth businesses. Our team provided financial and tax due diligence on all four acquisitions and acted as lead adviser on the final acquisition and the investment.

Ridgewall foresees the IT solutions industry consolidating and has big ambitions be the leader in this field. Nick Thompson, Kat Stone and Matt McRae from our corporate finance team were appointed to help the fast-growing company achieve its objectives. This started with the acquisition of Connecting London, a provider of managed IT services to the hospitality sector.

Next, our team assisted Ridgewall on two further transactions in early 2019. These were the acquisitions of communications solution providers Telnet International and Nomis Connections. Our advice on all three transactions helped the company secure a loan from Clydesdale Bank to fund the acquisitions.

Ridgewall’s fourth acquisition was QDOS SBL, a specialist provider of managed IT and communications solutions also to the hospitality industry. This transaction, backed by Inflexion, not only expands Ridgewall’s international presence but also brings on board new technical capabilities, further diversifying its client offering.

Alongside advising on the acquisition of QDOS SBL, our team supported Ridgewall throughout the transaction with Inflexion. This required a particular focus on negotiating key terms and managing the due diligence process. Mark Fielden and Thomas Acland from our M&A tax team provided extensive tax and structuring advice to the company and its shareholders throughout the investment process.

Dominic McAnaspie, Chief Executive of Ridgewall, said: “The Moore Kingston Smith team has been fantastic throughout the process. Their knowledge, insight and complete commitment to supporting us was evident throughout and fundamental to Ridgewall completing all of these transactions. Inflexion’s investment will enable us to continue the rapid growth of the business both organically and through M&A.”

Nick Thompson, corporate finance partner, commented: “We are delighted to have assisted Dom and the other shareholders over the last 12 months, particularly in securing investment from Inflexion which will help to further develop the company’s technical capability and international reach. It represents a significant landmark for Ridgewall following a period of outstanding growth and is testament to the shareholders’ ambition and commitment.”