Clearwater advises WestBridge Capital on the sale of ISG Technology to Allvotec, part of the Daisy Group

Transaction

WestBridge Capital on the sale of ISG Techology to Allvotec

Sell-side

Undisclosed

Role

Adviser to WestBridge Capital on the sale of ISG Techology to Allvotec

Sector

Tech & Tech Services

Region

United Kingdom

Clearwater has advised private equity house WestBridge Capital on the sale of its portfolio company ISG Technology to one of its channel partners Allvotec.

ISG provides network design, deployment and management services for multi-site clients in the UK. The company has a strong UK presence in the retail and public sectors, and has long term, trusted relationships with many household names including Tesco and the Ministry of Justice.

WestBridge supported the management buy-out of ISG in July 2016, paying £10.5 million (€12.4million). Since then, the company has grown both turnover and profitability, and professionalised under the stewardship of the management team led by Dave Gardner.

WestBridge was also supported on the divestment by Capital Law (Cath Golledge, Angelina Drljaca-Chandler and Tom Kelleher).

We are pleased to have supported ISG during its growth and professionalisation phase. The synergies between ISG and Allvotec are strong, and we wish everyone involved continued success. The divestment marks the fifth successful exit from WestBridge’s first fund, so we are delighted.
Valerie Kendall, who led the original MBO for WestBridge Capital

ISG has secured a very strong position in the structured cabling market through excellent customer service and sophisticated project management. We have now developed a strong alignment with Allvotec and are excited about the future success of the combined company, for our customers, partners and staff.
Jonathan Mckay, Chairman of ISG Technology

Having previously sold ISG’s closest competitor to Capita, our team was in a great position to advise Westbridge and the management shareholders. It’s another deal where we’ve been able to get a terrific result by recognising the synergy case and holding a line.
Carl Houghton, Partner and International Head of TMT at Clearwater