M&A Advisory – buying a business
Twenty7Tec Group
FRP Corporate Finance advised mortgage tech specialists Twenty7Tec on its acquisition of Bluecoat Software. Background The Twenty7Tec group, headquartered in Bournemouth has built an enviable reputation in the mortgage market for developing technology that enables advisers to serve their clients in a simpler, faster and more efficient manner. The company was looking to expand its operation by acquiring Bluecoat Software, which provides its mortgage, protection and wealth management CRM solution ‘Finplan’ to more than 300 advisory firms. Twenty7Tec appointed FRP as lead advisers on the deal. Action FRP Corporate Finance’s team advised Twenty7Tec’s management throughout the transaction process – the first significant acquisition by the company. As well as its extensive experience, the team was able to draw on its strong local presence and understanding and knowledge of mid-market software transactions to successfully complete the deal, which will see the businesses merge to operate under the Twenty7Tec brand. The combined business, which operates with close to 100 employees, will be led by CEO James Tucker with former CEO of Bluecoat Software, Mark Skelding, joining the board of Twenty7Tec Group as a Non-Executive Director. Outcome Following the successful acquisition, Twenty7Tec will pursue both organic and acquisitive growth, fuelled by ongoing investment in new tech-enabled services. The company plans to invest heavily in developing Finplan into a market-leading CRM solution for the wealth, mortgage and protection markets, as well as continuing to further develop the other mortgage capabilities of the combined businesses.
The FRP Corporate Finance team have been exceptional partners during the process: their focus, diligence and determination to do everything they could to support us in our ambitions stood out right from the start.
James Tucker Twenty7Tec Group
Clive Hatchard Partner Corporate Finance London West End, Reading +44 (0)7850 337 223 clive.hatchard@frpadvisory.com
Richard Boyden Director Corporate Finance London West End, Reading +44 (0)118 902 7105 richard.boyden@frpadvisory.com
Chris King Senior Manager
Corporate Finance London West End +44 (0)20 3941 5922 chris.king@frpadvisory.com
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