Leading Chartered Accountants and Business Advisors, Cowgills recently advised IT consultancy and expert witness business, IT Group on their acquisition by Blackrock Expert Services for an undisclosed sum.
The Preston-based business was acquired by fellow expert witnesses, Blackrock Expert Services, allowing them to further strengthen their offering within the IT dispute industry and diversify into new markets. With IT Group specialising in technology, and Blackrock having extensive experience in the construction industry.
The joint offering will now have previous experience working across civil and criminal cases, corporate investigations, and having provided evidence in the High Court, Magistrates, Crown, County and world-wide arbitrations.
IT Group was advised on their sale by Ed Foulkes, of Clarke Wilmott Solicitors, and Lisa Wilson of Cowgills’ tax team.
Giles Derry, CEO for Blackrock Expert Services, said: “We are delighted to have concluded this acquisition. The shared ethos of excellence, integrity and true independence of view means the two businesses are a strong natural fit. The combination is entirely consistent with our long-term strategy to provide excellence across a range of expert services.”
Tony Sykes, the founder and joint managing director of IT Group said: “We have been involved in some of the world’s largest IT disputes, including some landmark construction projects. We are excited about the opportunity to advise on Blackrock’s projects as well as continuing to offer our other technology dispute and forensic services to clients across the Group.
“Having only recently been introduced to Cowgills’ team, it was clear that they were very comfortable and experienced in the world of M&A. They really helped us structure the deal and ensure our position was clear from the outset. Going through a process such as selling your business can be very daunting, but having a team with strong credentials in the industry really helps you through the process.”
Lisa Wilson, Partner at Cowgills commented: “Despite only recently getting to know the team at IT Group, it was clear that the business had solid foundations, making it a very saleable business. Tony and Jason are not only clearly very experienced in the IT industry, but have shown their strength in building and running a successful business.
“There’s no doubt that there’s a clear synergy between the businesses in terms of skills and I’ll be a keen spectator as the success continues with IT Group and Blackrock Group’s new offering.”
Ed Foulkes, Partner at Clarke Wilmott said: “We’re delighted to have helped Jason and Tony with the next stage of IT Group’s journey. The deal was completed to a challenging timetable with Clarke Willmott’s team all working to achieve a great result for our clients and an exciting future for IT Group.”
This article is for general guidance only. It provides an outline, and may not include points which are important to your situation. You should not depend on this blog without taking advice based on the full facts of your case. The information given was correct at the time of publication.