Harbottle & Lewis has advised AIM-listed technology services group The Panoply Holdings plc on its acquisition of FutureGov Ltd.
This is a transformative acquisition for The Panoply and will result in around 45% of the Group’s revenue originating from the health and public sectors following completion.
The combination of FutureGov’s wealth of experience and The Panoply’s extended capabilities creates a very strong disrupter in these sectors, challenging the status-quo of larger organisations. The Group is now able to offer public sector clients an end-to-end service from discovery through to live digital transformation programmes, which is entirely tailored to the needs of the industry.
The acquisition was partly financed by a revolving credit facility entered into with HSBC as part of the transaction.
Charles Leveque, partner at Harbottle & Lewis commented: “We are thrilled to have advised The Panoply on this, its largest acquisition to date.
“We have advised The Panoply since its inception in December 2016 and have seen it grow to a £40m market-cap company in a very short space of time. We are immensely proud to have played a part in their exciting journey.”
Olly Rigby, CFO of The Panoply said: “Harbottle were excellent throughout. This was a complex transaction and we completed it in a short space of time; the team at Harbottle were instrumental in achieving that.”
Corporate partner Charles Leveque led the team that advised The Panoply on the transaction with support from associates Chien-Wei Lui, Kat Hardy-King and Katerina Capras. Tax partner David Scott advised on the tax aspects.