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Cowgills Deal Advisory supports 9xb on their sale to Velstar

Cowgills Deal Advisory team has advised 9xb on the sale of its business to ecommerce growth specialist Velstar.

Leeds-based 9xb is a privately owned B2B ecommerce agency specialising in complex ecommerce development, strategy and growth. They have joined forces with Velstar, who are a Liverpool based Shopify Plus agency that work with brands such as Castore, Neom, and Tangle Teezer to help in their ecommerce growth journey.

Cowgills partner, Sam Davies, who led on the transaction said: “We have worked with the shareholders of 9xb for a number of years, and we’re incredibly pleased to have brokered this transaction in such a tough market. We supported the business in finding the right strategic partner for 9xb to continue their growth journey.”

“We used our sector knowledge to identify Velstar as a key partner for 9xb in terms of scale and motivation. As one of the leading UK Shopify Plus agencies in the B2C space, this is a highly strategic acquisition for Velstar who now has a ready-built platform to build out their B2B offering which is critical given Shopify’s focus on this part of the market.”

Rob Burns, 9xb co-founder, said: “We are extremely pleased with the deal that Cowgills has secured for us. Velstar and 9xb are a great fit, with similar aims, intentions and culture, and we feel very positive about the future of the business.”

Dan Sheard, CEO of Velstar, commented: “This is a strategic move towards building something even more impactful within the ecommerce market, and will open up significant opportunities for the Velstar group.”

This represents Cowgills seventh deal completion since it joined the Sumer Group in February this year. Sumer is a rapidly expanding organisation with a mission to champion smaller and medium-sized businesses; its strategy involves investing in the leading regional practices who share the same ethos, values and approach.

Sam added: “One of the key reasons we wanted to join the Sumer Group was to leverage their sector knowledge on a wider scale, using their extensive network to secure more attractive deals for our clients.”

9xb
Disclaimer

The information was correct at time of publishing but may now be out of date.

Corporate Finance
Posted by Cowgills
30th May, 2024
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