CIL completes due diligence mandates in technology sector

02 February 2021 3 min. read

The M&A team of CIL Management Consultants has in recent months completed several due diligence mandates for clients in the technology sector. A round of notable deals on the firm’s roster.

In December last year, DCSL Software roped in a double-digit million pound investment from private equity fund Queen’s Park Equity. Headquartered in Farnborough and with offices in London and Manchester, DCSL Software is an IT services firm specialised in Microsoft technologies.

DCSL Software experienced over 40% compound growth over the last seven years to over £10 million annual revenues, and now aims at accelerating growth even further amid a booming digital transformation market. CIL Management Consultants was one of DCSL Software’s lead strategic dealmakers, providing the commercial due diligence for the deal.

CIL completes due diligence mandates in technology sector

Also in December, Livingbridge completed an investment in Welltel, one of Ireland’s fastest growing communications and IT companies. Welltel provides circa 3,500 customers in the country with expertise in unified communications, contact centres, secure connectivity, managed IT services, remote working, and phone systems.

Livingbridge was advised by Clearwater International (corporate finance) and Pinsent Masons (legal), with CIL Management Consultants taking responsibility for the commercial due diligence.

In another Irish deal, CIL Management Consultants supported Dublin-based IT procurement and services firm Arkphire during its reported €120 million sale to US-based Presidio. Previously a Bregal Milestone portfolio company, Arkphire is a provider of IT procurement, professional and managed services, principally serving multinational enterprise clients. 

CIL Management Consultants delivered the vendor commercial due diligence to Arkphire, which according to chair Paul Nannetti wants to leverage the network of its new parent – a $3 billion IT solutions and services business – to “grow aggressively” and evolve into a “true global player”.

Meanwhile, for the CitNOW and Dealerweb transaction, CIL Management Consultants provided buy-side commercial due diligence support. Dealerweb is a UK-based provider of sales and lead management software for automotive dealerships. CitNOW, which is backed by investment firm Tenzing, is a larger global automotive technology group providing solutions to car dealerships in 62 countries.

The two companies will continue to operate independently, but team up to help motor retailers provide “an outstanding customer experience and drive innovation”.

In November, Nottingham-based Agilitas IT Solutions completed a management buyout (MBO), led by its current CEO and supported by private equity player Perwyn. Agilitas is a tech provider in the IT supply chain, providing inventory management solutions for IT channel partners including resellers, managed service providers, system integrators, vendors and distributors.

CIL Management Consultants conducted a vendor commercial due diligence for Agilitas IT Solutions and its shareholders. Under the wings of Perwyn, which acquired a majority stake, Agilitas aims to accelerate its growth including international expansion, service acceleration and potential inorganic growth.