LONDON Corbett Keeling, the corporate finance advisory firm, and Plextek, the Cambridge based electronics design consultancy, have signed a agreement to jointly advise on corporate finance transactions in the software and technology sectors.
The two companies have had a professional relationship since 1997 and Graham Maile, director of strategic consulting at Plextek, has become an associate of Corbett Keeling.
The two firms will carry out regulated corporate finance activities including advising on fund raisings, for example, in relation to buy-outs, buy-ins and projects requiring development or buy-and-build capital, due diligence and related bid support work, sales of businesses and transactions governed by the Takeover Code.
Corbett Keeling, started in 1993, focuses on transactions where funds raised for clients, or the value of assets bought or sold, are up to £150 million; a significant proportion of its clients are or have been businesses in technology development or software – one of five sectors covered by the company.
Plextek is one of the largest independent electronics design consultancies in Europe. It was established in 1989 and now has close to 100 staff. It specialises in product and systems design for communications, aerospace, defence, automotive and medical applications. A number of venture capital organisations and investment banks are said to regularly use Plextek to evaluate technologies and companies prior to making an investment. Plextek has also assisted corporate investors during M&A activities.
Simon Keeling said, “This builds significantly on Corbett Keeling’s existing experience in the technology sector. We will now be able to operate in that sector in the same way as we have been doing successfully in our four other areas of specialisation: health/pharma, insurance/financial services, engineering/industrial and property. We find that owners of businesses, particularly in the private equity community, very much like the combination of sector and corporate finance expertise.”
Maile added, “Adding a corporate finance capability to our existing services, particularly in the area of due diligence reviews and related bid support work, will bring benefits to our clients. We believe there is a gap in the market for high quality, professional delivery of the combined product and we are already seeing demand from prospective clients.”