Jamieson has advised the management team of Target Group, the financial services outsourcing and software provider, on its acquisition by global multi-national specialist in digital transformation, Tech Mahindra.
Following FCA approval, Tech Mahindra completed its acquisition for 100% of the share capital of Target Group at an Enterprise Value of £112m. After four years of expansion under the ownership of Pollen Street Capital the transaction represents the start of a new and exciting phase for Target and its growing client base.
Target Group is headquartered in the UK and has about 800 employees. The management team, led by Co-Group CEOs, Ian Larkin and Bill Alley, will all remain with the business and ensure continuity and acceleration of the current strategy.
“’The management team had not gone through a process like this before and the way Jamieson helped the team build the deal and get it across the line was nothing short of exceptional”
Paddy Byrne, Chairman
The Jamieson team led by Tom Burton and Ross Wheeler advised the management team on the creation of a new management incentive scheme, as well as providing assistance with executing the transaction through to completion.