Stevens & Bolton’s specialist mid-market M&A team advised the principal shareholders and management team on the sale of Worksmart to Davies, the leading specialist professional services and technology business, serving insurance and highly regulated markets.
Based in Milton Keynes, Worksmart is the leading supplier of regulatory technology (RegTech) for people and process management. The Worksmart product range enables organisations to track and manage regulatory processes across customer complaints and feedback, quality assurance, training and competence, the Senior Managers and Certification Regime (SM&CR) in the UK, and the Individual Accountability Regime (IAR) in Singapore. Worksmart’s clients range across insurance, banking, investment and consumer credit.
Paddy MccGwire, outgoing Chairman of Worksmart commented: “I have worked with Richard Baxter and his M&A team at Stevens & Bolton on numerous transactions for over 30 years. The consistent qualities demonstrated are clear, considered legal transaction leadership and direction, with commercial pragmatism and appreciation. High calibre specialists are always available as needed, whether tax, trusts, employment, banking or other. This was yet another great experience. Having excellent lawyers is key to a successful transaction without unnecessary friction - Stevens & Bolton delivered again, as usual.”
Richard Baxter, corporate partner at Stevens & Bolton said: “Having worked with the team at Worksmart over many years, it was a great pleasure to help them, along with the highly skilled Silverpeak team, through this latest step of the journey. We wish Andy and the rest of the management team every success as part of the Davies Group.”
The Stevens & Bolton team included lead corporate partner Richard Baxter, together with Natasha Dean (corporate), Himal Bulathsinhala (corporate), Jenny Robertson (lead corporate partner, management advisory), Sarah Balchin (tax/incentives), Kate Schmit (tax), Michelle Hobbs (employment) and James Hardaker (trusts).