London – 27th November 2020 – WTA is pleased to announce the acquisition, earlier this month, by Converge-IT.Net Limited (“CTS”) of City Business Solutions UK Ltd (“CBS UK”), a London based Managed Service Provider to barristers’ chambers.
Founded in 2006, CTS is a provider of cloud and managed IT services purely dedicated to the UK and Irish legal sector serving both law firms and barristers chambers with a philosophy grounded in delivering a highly specialised service that provides value to their legal sector clients.
WTA worked closely with the company and their private equity backers, Tenzing as exclusive M&A advisor. Nigel Wright, CTS’s CEO said of the experience “WTA have truly delivered as our research partners and advisors. We were very impressed by their deep market knowledge, their diligence and their structured approach to the project. I have no hesitation in recommending WTA, and we look forward to continuing to work with them in the future.”
Matthew Nicholson, Acquisitions Director at Tenzing added “It was great to have WTA working with us on the acquisition of CBS, bringing their experience and knowledge of the sector to bear. I’m sure this won’t be the last opportunity we work on together”
Jeffrey Jenner, WTA’s Partner leading the firm’s Cloud Services practice commented “This transaction further underlines WTA as the lead specialist in the mid-market Cloud Services sector and demonstrates again the ability to work effectively with clients and, where it is necessary, their private equity partners. We look forward to continuing to work with CTS”.
About Private Equity: Tenzing is an independent private equity firm, based in London, that targets buyout investments in high growth businesses, valued between £10m and £200m, across the UK, Ireland and Northern Europe. Founded in 2015, the firm invests in tech and tech-enabled niche market.
For more insight on this transaction, a case study can be read here