Shoosmiths advises in creation of new Milton Keynes-based global technology finance company
Shoosmiths has advised Five Arrows Principal Investments (Rothschild & Co) in the creation of a global company to be headquartered in Milton Keynes formed by the acquisition of White Clarke Group by IDS (a leader in enterprise mission-critical solutions for secured finance) in conjunction with private equity firm Thoma Bravo, which invests mainly in software and technology companies.
The deal is multi-million in value, but full financial terms were not disclosed. The transaction initially announced on 7 April 2021 has completed today (1 June 2021).
IDS is acquiring White Clarke Group from Five Arrows Principal Investments, who originally invested in the business in 2016 and will remain a shareholder in the combined company. Shoosmiths advised on that initial FAPI MBO and on both the sale and reinvestment. FAPI will remain a shareholder in the combined company which will serve more than 300 customers across North America, Europe and Asia Pacific and will be co-headquartered in Minneapolis, USA and Milton Keynes in the UK.