February 6, 2013
Specialist media and technology law firm, Wiggin, has advised Thomsons Online Benefits on their secondary buy-out by US private equity house, ABRY Partners. Thomsons is an award-winning technology company which helps businesses gain maximum benefit from their employee reward schemes at minimum cost.
The deal values Thomsons at approaching £100 million.
ABRY’s investment in the business will allow Thomsons to make acquisitions, to expand its footprint in the UK and internationally and to dedicate significant funds to accelerating the roadmap of Darwin™, its employee benefits technology platform.
Michael Whitfield, CEO of Thomsons Online Benefits, comments: “This is such an exciting time for Thomsons, and a very important step for the business in driving further global growth. As a fast-growing technology business who are acknowledged as the market leaders in our space, it was very important for us to have advisers that really understood us, the technology sector, and what we are trying to achieve.”
“Ben and the team at Wiggin did an outstanding job as our external legal advisers on the deal, and worked hard to close the transaction in tight timescales.”
The Wiggin team was led by corporate partner Ben Whitelock, with technology partner Shaun Lowde providing IP/IT advice.
Ben comments: “We have worked very closely with Thomsons for nearly 10 years now and have seen them go from strength to strength over that period. We are delighted to have helped them with this strategically very important transaction and feel confident that their partnership with ABRY is the right one to enable them to achieve their goal of doubling their revenues and trebling their earnings by the end of 2015.”