Southampton lawyers advise on £57 million sale of Trustmarque to Capita
22nd June 2016
Southampton-based lawyers Moore Blatch have advised on the £57 million sale of Trustmarque Solutions Ltd to Capita. Trustmarque is a Microsoft LSP, and the provider of software and cloud technology solutions for both public and private sector organisations, employing 620 people across five UK locations.
The sale takes place less than two years after Moore Blatch advised on the purchase of Trustmarque by the Liberata group, which employs over 2000 people across the UK, and is a leading IT software and services provider to the UK Government and the NHS.
During this time Moore Blatch has provided legal support to significantly streamline the corporate structure, including the removal of dormant companies and simplification of a complex group structure in preparation for the sale. Moore Blatch also provided the legal support for the recent merger of Trustmarque with Trinity, the IT solutions division of group company, Liberata.
Commenting on the deal, Peter Jeffery, partner, Moore Blatch, said: “Increasingly, organisations are looking to take their legal services support from lawyers based outside of London, in the knowledge that the expertise is as good, and often the terms are much more competitive. The Trustmarque sale by the Liberata group is a good example of this, being a very large and complex case handled locally, and this is good news for all regional professional services advisers and the local community.”
Martin Trainer, group chief financial officer of the Liberata group, of which Ardbid Ltd is the parent, comments: “Peter’s understanding of the IT industry made a real difference to this deal. There were numerous complex commercial transactions that all had to be brought together to make this deal happen. Peter and his team supported us in the initial acquisition of Trustmarque in just seven days, and following this acquisition aided us with the complex corporate restructuring and disposal of several inactive companies. By completely reorganising the company we have been able to gain the best possible price at sale, with the new owners acquiring a much better business. I would therefore thank everyone at Moore Blatch for going that extra mile.”