TMT Deal News - July 7 2024

Printed News

Edinburgh’s ‘fastest growing tech company in the North’ opens Manchester office following rebrand

June 12, 2024

Edinburgh digital consultancy xDesign has rebranded to CreateFuture, following its acquisition of the innovation and design agency of the same name and securing minority investment from Soho Square Capital to support UK expansion. The rebrand coincides with the opening of new offices in Manchester and London, marking a year of significant growth, including a 119% revenue increase in FY23 and recognition as the fastest-growing company in the North at the Northern Tech Awards. CEO Euan Andrews emphasized the importance of the new offices in strengthening client relationships and enhancing the company's role in local tech communities. The Manchester office will be led by Mark Dore, formerly of Accenture, who will also oversee the Leeds office. The rebrand aims to provide comprehensive end-to-end digital solutions, encompassing brand, proposition, experience design, product development, software engineering, delivery, cloud and data, and managed services.

Prolific North

West Ham United seek fresh investment, advisers at Rothschild & Co involved

June 14, 2024

West Ham United, along with other Premier League clubs like Tottenham and Brentford, are seeking new investment to stay competitive, as reported by The Sun. The Hammers have enlisted advisers from Rothschild & Co to secure fresh funds for squad strengthening while adhering to Financial Fair Play (FFP) regulations. This financial maneuvering is crucial as West Ham prepares for the Julen Lopetegui era, having already signed Brazilian teenager Luis Guilherme for £25 million and eyeing other recruits like Argentina defender Nehuen Perez. The club aims to avoid FFP breaches that could lead to points deductions, which would undermine their efforts to compete in the Premier League. Despite announcing a profit from player sales, West Ham reported an £18 million loss last year, highlighting the need for careful financial management. Additionally, there is new European interest in player Ben Johnson.

West Ham Zone

DC Advisory advises Fabbri Group on the refinancing of its existing debt facilities

July 1, 2024

Gruppo Fabbri Vignola S.p.A. (Fabbri Group), a prominent industrial company specializing in machinery, film, and software for the fresh food industry, engaged DC Advisory to refinance its existing debt facilities. With over 400 employees and operations across Italy, Switzerland, and several European countries, Fabbri Group sought to enhance its financial structure. DC Advisory conducted a thorough and competitive refinancing process, which included financial modeling, debt structuring, lender marketing, due diligence, and documentation negotiations. The successful outcome was the securing of long-term financing from Muzinich & Co., an investment firm focused on corporate credit. This refinancing is expected to support Fabbri Group's strategic goals of industrial growth, geographic expansion, and product innovation towards more sustainable solutions. Both Fabbri Group's CEO, Stefano Pellegatta, and DC Advisory's Executive Vice Chairman Italy, Pietro Braicovich, expressed satisfaction with the process and its results.

DC Advisory

DC Advisory advises Bulletproof on its sale to The GRC Group

June 12, 2024

Founded in 2016, Bulletproof Cyber Ltd is a prominent cybersecurity and data protection service provider, offering services such as penetration testing, GDPR and ISO consultancy, and Cyber Essentials certifications to over 2,000 clients globally. Headquartered in Hertfordshire with a team of over 100, including 60 accredited professionals, Bulletproof was advised by DC Advisory on its sale process starting in November 2023. DC Advisory conducted a competitive process, leveraging its sector expertise to attract motivated bidders from the cybersecurity, cloud, managed IT services, and GRC sectors. In June 2024, Bulletproof was acquired by The GRC Group, a leading provider of software and tech-enabled services for business risk and regulatory compliance, aiming to expand into the cybersecurity risk management market. The acquisition is expected to enhance The GRC Group's service offerings and support Bulletproof's growth. The transaction also underscores DC Advisory's expertise in cybersecurity and IT services M&A.

DC Advisory

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