Selling A Professional Services Business

Synergie Training Ltd

Inverness-based Synergie Training has been sold in a deal overseen by KBS Corporate which gives the buyer, TTC Group, strategic entry into the construction and infrastructure sector.

Synergie, established in 2009, is a UK and internationally recognised provider of construction, civil engineering and IT training courses and has worked with an extensive list of well-known clients including BT, Shell and the NHS.

TTC Group has, for over 30 years, pioneered road safety education for corporate and private drivers, delivering programmes to over 500,000 individuals per year. Its services include licence checking, road safety and driver rehabilitation courses.

The acquisition of Synergie is part of Telford-based TTC’s (Trusted Training and Compliance) entry into the broader health and safety marketplace, enabling the expansion of its driver-related product suite to support large construction and infrastructure companies.

“We are delighted to be joining the TTC family of trusted training and compliance solutions,” commented Steven Nelson, Synergie Training’s Managing Director.

“As a tech-enabled business, TTC represents an exciting and significant opportunity for Synergie Training to make our training programmes even more accessible to our existing clients, whilst offering improved scalability for us to deliver the best possible training en masse to the construction and infrastructure sector.”

TTC said its partnership with Synergie will upgrade the array of courses available to help ensure construction and infrastructure workers across the nation can operate safely and competently. The construction sector remains the industry with the highest number of fatalities across Great Britain, according to the Health & Safety Executive.

“2024 marks TTC entering a new strategic phase, backed by financial investment from Pricoa Private Capital,” said Jim Kirkwood, TTC’s CEO. “The acquisition of Synergie Training is an excellent first step into this complementary and adjacent market where compliance and learning are key.

“Synergie has an enviable reputation for quality training and outstanding service, boasting a rarely achieved Net Promoter Score of 100. Its method of delivery is very similar to our own ‘book-pay-deliver’ model but currently largely delivered manually and face-to-face.

“This is a fantastic opportunity to further leverage our tech-enablement and virtual training skills to increase Synergie’s customer base still further, while also accelerating growth into new areas such as environmental training.”

Nathan Leah, Associate Director at KBS Corporate, oversaw the sale and quickly identified both Synergie Training and TTC Group as being an ideal fit for their respective requirements.

“Synergie Training demonstrated a progressive service model, high-calibre clients and an exponential growth profile,” said Nathan.

“It was evident early in our process that Synergie commanded high-calibre interest from the market. We were flattered by the volume and calibre of interest, but it became very clear TTC were the correct purchaser for Synergie Training.

“I strongly believe this acquisition of Synergie Training by TTC will be an incredible success for all involved.”

Nathan also expressed his thanks to all parties at Synergie Training and TTC, as well as all advisers involved, for a collaborative and positive deal process.

In particular, special thanks to Harriet Jones and Guvvy Sandhu of Mackrell Solicitors for what Nathan described as “their highly valued efforts and diligence in the sell-side legal process”.

Strive Insight Ltd

Strive Insight, a prominent London-based market research agency, has been sold to international data specialist Radius Global Market Research in a deal overseen by Tom Eatough, Corporate Director at KBS Corporate.

Applying a problem-solving philosophy to support the overall brand health of its clients, Strive combines existing knowledge, primary reach and big data with compelling communication techniques to help convert research insights into meaningful opportunities that can be delivered on.

The sale to New York City-based Radius Global Market Research expands the geographical reach and resources of both companies. Strive will maintain its UK offices and the current management team is remaining in place under the new structure.

Radius is a full-service market research consultancy founded in 1960 and its expertise has included partnerships with Fortune 500 leaders, as well as with emerging and start-up brands in more than 60 countries. Besides the US, it has offices in Dubai, India, China and Hong Kong.

The partnership between Strive and Radius is expected to result in a smooth integration of operations for clients, employees and investors.

“We have found in Radius a partner with a mindset similar to ours,” said Paul Thomas, Director of Strive Insight.

“Our experienced team is focused on delivering clear opportunities that drive client brand growth. This expansion provides an opportunity to further enrich our capabilities and achieve even stronger results for our clients across the globe.”

Chip Lister, Managing Director of Radius, added: “Our growth strategy is focused on identifying key partnerships that help us deliver an expanding set of capabilities to the global brands we serve.

“Strive Insight’s commitment to quality research and strategic thinking, along with its data capabilities and consultative practice, aligns ideally with our client offering.”

Those comments were echoed by Tom Eatough, who also saw the companies as an ideal fit during his work in facilitating the sale.

“It was clear from the outset that Radius had similar values and approach to work as our clients, so I’m pleased we managed to agree a deal with them,” said Tom.

“I’m looking forward to seeing how Strive Insight develops under Radius and I am sure it will be a great success for everyone involved.”

Andrew Forbes Ltd

Andrew Forbes, a firm of chartered surveyors with six offices in England and Wales, has been sold to Eddisons in a deal overseen by Paul Liptrott, KBS Corporate Deal Executive.

With its headquarters in Bristol, Andrew Forbes also operates from Bath, Cardiff, Cheltenham, Oxford and Swindon, having been established in 1995 and achieved a reputation for providing high-quality advice on a wide range of commercial and residential properties for owner occupation, investment or development.

The company’s 18 employees are being integrated with Leeds-based national property consultancy Eddisons, which has a network of more than 25 offices across the UK and now has a valuations team exceeding 100 among its staff of over 400.

“Andrew Forbes wanted to find a buyer that could satisfy the objectives of three shareholders who all had differing objectives,” explained Paul Liptrott after completing the sale.

“Two shareholders were retirement-planning, although only one of them was to retire immediately after the transaction. Two of the shareholders wished to continue working within the profession, so it was important to find a buyer that could be a good fit.”

One of the UK’s fastest-growing property consultancies, Eddisons’ presence in the South West of England has been significantly boosted as a result of this acquisition.

“The buyer recognised Andrew Forbes operated in a geographical location they had planned to provide further services within,” added Paul.

“The reputation they had built since 1995 and the success of Andrew Forbes in this area of professional services had appealed to several buyers. However, Eddisons were much more appreciative of the value this would bring. They had criteria that had been met in every aspect with Andrew Forbes.”

David Chichester, managing director of Andrew Forbes, said: “We are excited to be joining the Eddisons team as there is a natural overlap with the services we offer and an opportunity to work with like-minded individuals. This strengthens our proposition to clients and I look forward to developing the opportunities the deal presents.”

Eddisons’ managing director Anthony Spencer added: “The acquisition complements our existing strength in valuations and I look forward to working with David and the team to seek opportunities for further growth.”

The sale was also one that ticked all boxes from KBS’ perspective. “Andrew Forbes were an absolute pleasure to work with, which made the process extremely successful and we found the perfect buyer within a short scope of time,” said Paul Liptrott.

“The communication I had working with Andrew Forbes was a cut above the rest. The shareholders trusted my advice and clearly communicated their requirements and preferences.

“Working together in such a manner was instrumental to the success of the deal. I have no doubt the spirit they showed during the deal will transmit going forwards working with Eddisons.”

Paul’s work was supported by KBS colleagues Lile Ashley, Research Analyst, who identified the buyer and many other potential acquirers who impressed Andrew Forbes, and Daniel Calderbank, Document Writer, who prepared the information memorandum.