ORBIS PARTNERS ADVISE METAPHOR ON ITS MERGER TO FORM KERV
BUSINESS OVERVIEW
Orbis Partners advised the shareholders of Metaphor IT (“Metaphor”) on its merger with DoubleEdge Professional Services and Foehn to form Kerv, a transaction backed by LDC with a combined value of £30m.
Metaphor delivers three core solutions, Cloud Services, Digital Workspaces and IT Managed Services providing disruptive solutions in these specialist areas which set it apart from its larger competitors. The business has been fast growing and has an enviable list of clients including major global brands and FTSE 100 companies, reflecting the quality of its team and service offering.
The three businesses will merge to form Kerv, a next generation managed services provider with a focus on providing cloud based solutions for the mid market. Alastair Mills and Mike Ing, former CEO and COO at Six Degrees Group respectively, brought the three entities together. Kerv will enter the market with revenues of £20 million and over 100 employees.
Orbis’ combined knowledge of the IT sector with transaction expertise was invaluable in delivering a fantastic result for the shareholders. We would like to thank the team for their determination and valued advice during the transaction.
Richard Callis, Managing Director
OUR ROLE
Orbis worked closely with the shareholders of Metaphor in order to secure a strategic price for the business.
Specifically, Orbis:
- Spent time with the shareholders to understand the unique selling points of the business and presented these in the Information Memorandum
- Highlighted Metaphors strong growth rate by presenting figures on a run rate basis
- Utilised our in-depth knowledge of the IT Services sector to identify a number of strategic buyers who understood the key value drivers of the business and the potential for future growth
- Presented the business to potential buyers, securing and negotiating multiple offers
- Managed the preparation and flow of information throughout the diligence process to ensure commercially sensitive information was safeguarded
- Ensured effective liaison and communication between both parties and all advisors throughout the deal process to deliver a successful outcome
- Negotiated key commercial aspects of the legal documents to ensure the successful completion of the deal
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