Zenon advises on sale of Adastra Software Limited to ACS plc |
Adastra Software Limited, a leading provider of specialist healthcare IT software in the UK, was sold to Drury Lane Capital plc (now Advanced Computer Software plc “ACS”). Zenon’s Transaction Services team project managed the due diligence process for the shareholders of Adastra and provided financial forecasting and modelling services to the Company itself. Adastra’s former managing director and shareholder, Adrian Gilson, commented “I led the whole process on the Adastra side with Richard project managing the detailed responses in the due diligence and transaction process. Richard and his team worked tirelessly to meet the tight deadlines we were working to. It’s true to say that they cheerfully worked all hours. Richard’s support to the Adastra team was an invaluable resource and we simply could not have completed the transaction without him.” Richard Price, commenting on the transaction, said “We were delighted to work with Adrian and the team to deliver this transaction, drawing on our expertise in this type of work and our experience of working with the business over a number of years.” Zenon worked closely with the legal advisors to the shareholders, Callaghans, throughout the transaction. This work enabled the shareholders and board to continue the management of the business with minimal disruption. Commenting to the shareholders, Murray Wells, corporate partner at Callaghans, commented “Richard was invaluable. You had a good team. Probably the best I have worked with.” Advisors to the shareholders of Adastra Software Limited Transaction and Due Diligence Management: Richard Price, Lesley Carrington and Melanie Price, Zenon Transaction Services Limited Legal: Murray Wells and Jerome O’Callaghan, Callaghans Advisors to Advanced Computer Software plc Legal: Karma Samdup, CMS Cameron McKenna LLP Taxation and accounting: Barry Carter and Amanda Myatt, KPMG LLP
|
|
Richard’s support to the Adastra team was an invaluable resource and we simply could not have completed the transaction without him
