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London – April 4th, 2014 - WTA is pleased to have advised on the sale of its client, Applied Solutions a UK company delivering engineering industry solutions primary focussed on Lifecycle Management (PLM) products and services to Intrinsys, (www.intrinsys.com) an engineering and software group.
Such was WTA’s performance and effectiveness that both our client and the buyer were keen to provide testimonials.
Jeffrey Jenner said, “this is very pleasing for it brings together two excellent companies and it is the first completed transaction working with Alan Butterworth”.
WTA were the exclusive M&A advisors to Applied Solutions.
Darren Cairns cofounder and director of Intrinsys commented “WTA owned the whole process from the first enquiry right through to the completion on the last day, demonstrating an extremely hard-working attitude with good communication throughout. I would have no hesitation in recommending WTA to anyone seeking support in an M&A scenario”.
Shaun Clark, managing director and founder of Applied Solutions commented on working with WTA “…we received an offer from one of our direct competitors so the exchange of company information proved challenging in terms of confidentiality but was handed sensitively by WTA…and they worked tirelessly on our behalf”.
Applied Solution’s founder, Shaun Clark said “we began the process of selecting an adviser to assist us in the sale of our business. WTA were initially recommended to me as an organisation experienced in advising on the sale of businesses operating in the IT sector.
Once engaged the marketing process began and we received an offer from one of our direct competitors, making the exchange of company information challenging in terms of confidentiality but was handed sensitively by WTA. Our competitor’s initial offer was not considered sufficient and the marketing process continued to identify other credible interested parties. In parallel Jeffrey and Alan continued to focus on the first bidder in terms of keeping them in the game and they worked hard on increasing the initial bid. This was a long and difficult process for all parties involved but ultimately resulted in it being raised to an acceptable level.
The IT sector is a very diverse market and in our particular case we operate in a very niche engineering IT space so industry knowledge needs to be considered very carefully when choosing an advisor but in terms of deal making WTA have demonstrated all the right instincts in developing and closing a deal once they have a target in their sights.”
Darren Cairns, Co-founder and Director of Intrinsys further explained “Throughout the whole process WTA worked relentlessly to create the deal and at times when both parties seemed a long way apart, they worked tirelessly to find some common ground and ensure the process continued to move forward. The deal had extra complexity because the businesses were direct competitors, and this made the transfer of information and the negotiation particularly difficult. Without any doubt, the fact that a deal was reached was a reflection of the hard work that WTA put in and almost certainly the negotiation could not have happened if the two parties had tried to reach agreement without WTA’s involvement.
WTA owned the whole process from the first enquiry right through to the completion on the last day, demonstrating an extremely hard working attitude with good communication throughout. I would have no hesitation in recommending WTA to anyone seeking support in an M&A scenario.”