Clearwater International has advised Infinity Works, a digital transformation consultantsy, on its sale to global professional service company Accenture. The sale will mark an exit for investors Growth Capital Partners (GCP).
Founded in 2014 and headquartered in Leeds, Infinity Works’ team of 480 highly-skilled experts specialise in using agile and cloud-first approaches to enable some of the UK’s most recognised businesses and public services to digitally transform. F
rom tier-one retail and financial services to the NHS, Infinity Works provides a range of value-add services including data, cloud, design and research, and full-stack engineering.
GCP invested in Infinity Works in March 2019 as a supportive partner to the founder management team. During the last two years, GCP’s support and investment has enabled Infinity Works to accelerate growth evolving the service proposition of the business and more than doubling headcount.
The sale to Accenture will provide global reach and increase Infinity Work’s presence in a rapidly growing marketplace.
The Clearwater International team consisted of Partner Carl Houghton, Partner Richard Goldsack, TMT Director Wesley Fell-Smith, TMT Associate Directors Jonathan Grant and Kirsten Handley, Associate Gregory Cornes and Executive Carly Sinicrope, with support from US partner KeyBanc Capital Market, led by Managing Director Dev Navare.
Paul Henshaw, Co-founder at Infinity Works, said: “The Clearwater International team’s expertise in deal strategy and execution was crucial to us achieving this fantastic result. The creation of a bespoke process allowed us to focus our time and energy on credible international bidders with clear strategic rationale for wanting to partner with Infinity Works. Ultimately this delivered a great result for us and the other shareholders, and we had some fun along the way!”
Richard Shaw, Partner at GCP, said: “What stood out for us from the start was Clearwater’s unique combination of local presence in the Yorkshire market, deep technology expertise and international buyer access through KeyBanc, their US partner. The team seamlessly combined these elements in a bespoke process that brought highly strategic buyers to the table and delivered us a standout result. We believe that Accenture will be a fantastic home for Infinity Works and enable it to go on to achieve even greater things in the future.”
Richard Goldsack, Partner, Clearwater International said: “Infinity Works is a real Yorkshire tech success story, the growth of the business over the past seven years has been remarkable and I am sure will now continue with Accenture’s global reach and wide service offering. This deal is a great example of Clearwater combining our regional market knowledge, sector expertise in the tech space and leveraging international reach through our relationship with US partner KeyBanc Capital Markets. Our regional strategy in Leeds is to continue to bring this combined expertise to local businesses in the area. It was a pleasure to work with Infinity Works’ founders and the management team and we would like to wish the entire team all the best on the next stage of their journey.”