Keep IT Simple Limited

£26m trade sale of IT business to AIM listed PLC

Keep IT Simple (KITS) is a provider of high value IT support and transformation services to public and private sector clients. Find out how we helped with their trade sale.

Highlights

£26m

trade sale to The Panoply Holdings PLC

100%

stakeholder satisfaction

Challenge

KITS has built a reputation in the public sector for transforming and running live and critical services such as payments platforms on behalf of clients including the Rural Payments Agency and the Department for Environment, Food and Rural Affairs (DEFRA).

KITS’ CEO Grant Harris sought our services based on the recommendation of a satisfied client. With KITS growing at a phenomenal rate, Grant wanted to assess his strategic options to ensure that his next step delivered the best value to all stakeholders.


Solution

Strategic planning

We advised KITS’ management team on its options to following a period of rapid growth and important contract wins. Ultimately a trade sale strategy emerged that would meet the requirements of all stakeholders.

Sale process

We advised on the strategic positioning of the business, go to market strategy and buyer audience. After preparing an Information Memorandum (IM) that showcased the business and its potential, we approached suitable buyers in a discrete and targeted manner. We ran a tightly controlled sale process and led negotiations with potential parties to bring about the successful offer.

Deal completion

Gaining the offer is only half way in the process. Following this we worked closely with the due diligence and legal team of the buyer and partnered with the legal team at Burges Salmon on behalf of KITS to ensure the deal came to a successful completion.

Grant Harris, CEO Keep IT Simple (left) Daisy Mackay, Shaw & Co (right)

Results

Through our support and strategic guidance, we helped KITS management team plan the trade sale and marketed the business to suitable UK trade buyers. We negotiated a deal that saw the business acquired by AIM listed The Panoply Holdings for £26m.

The acquisition of KITS enables The Panoply to expand its contract reach and bid for ever-larger projects across both the public and commercial sectors.

testimonial

“Shaw & Co's guidance through the process was excellent and no question we asked of them seemed too difficult. I'm certain at times it must be very tiring to continuously break down complex processes (and even simple ones) into manageable information that the uninformed (like us) can understand, but they did this every time we asked and were extremely patient with us.

They orchestrated the entire process for us from beginning to completion and were always confident, in control and very respectful to all parties concerned in the process, buyers and vendors alike. We did not feel the costs were overly expensive at any point throughout the transaction and we walked away at the end of the deal with the strong belief that they were worth every penny and we would have floundered helplessly without them.

"
Like my friend who recommended Shaw & Co to me, I would now enthusiastically recommend Shaw & Co to anyone looking to go through the same process we just completed."
Grant Harris
Founder & Chief Executive Officer, Keep IT Simple Limited
Lead Advisor:
Jim Shaw
 - 
Founder & CEO
Read 
Jim Shaw
's bio
Support Advisor:
Daisy Mackay
 - 
Manager
Read 
Daisy Mackay
's bio
Support Advisor:
 - 
Read 
's bio
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Selling a business

We can help you develop your exit strategy, value your business, find a buyer and negotiate a deal that unlocks maximum strategic value.

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