Bristol-based advisors at Smith & Williamson, the accountancy, investment management and tax group, have advised on the £3m sale of DeltaNet International Ltd. to Marlowe plc.
DeltaNet is based in Loughborough and was established in 1998. It provides accredited health and safety, compliance and HR eLearning courses to companies across the UK and internationally. DeltaNet employs 36 staff, around half of whom are involved in content development and software and app design.
Marlowe plc, based in London, is a UK leader in business-critical services and software which assure safety and regulatory compliance. The acquisition will bolster Marlowe’s market-leading position in the UK’s health and safety market.
Iain Lownes, partner, and Paul Stagg, senior manager, from Smith & Williamson’s corporate finance team in Bristol, were lead financial advisors on the transaction. Additional advice was led by Ray Abercromby, tax partner.
Darren Hockley, managing director of DeltaNet, said: “Selecting the right advisors was critical at such a key point of change for myself and the other shareholders. Smith & Williamson’s support, technical expertise and attention to detail were crucial in delivering this outcome. I’m thrilled with everything the team has done and would highly recommend them.”
Iain Lownes said: “Smith & Williamson has a strong focus on technology businesses and we are delighted to have completed another transaction in this sector, one that will facilitate DeltaNet’s growth while broadening Marlowe’s service capabilities to existing customers.”
Legal advice was provided by Geoff Perry, Indy Bening and Timothy Jarvis of Squire Patton Boggs.