{"id":2064230,"date":"2020-08-03T07:46:40","date_gmt":"2020-08-03T06:46:40","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/northwest\/?p=2064230"},"modified":"2020-08-04T17:46:56","modified_gmt":"2020-08-04T16:46:56","slug":"restructuring-firm-bought-in-42m-deal","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2064230-restructuring-firm-bought-in-42m-deal","title":{"rendered":"K3 Capital expands again with \u00a342m deal for corporate recovery firm"},"content":{"rendered":"

K3 Capital has bought restructuring and advisory firm Quantuma in a deal worth up to \u00a342m.<\/p>\n

It is the second acquisition in six weeks for the Bolton-based group, which paid an initial \u00a39.3m for randd UK in June. At the time it raised \u00a330.5m from investors to fund that deal and future purchases.<\/p>\n

\"\"

John Rigby, chief executive of K3<\/p><\/div>\n

K3’s chief executive John Rigby said: “We believe that Quantuma is an excellent fit for the group and will play a significant part in helping us achieve our strategic aim of building a wider group of growing and complementary professional services businesses.”<\/p>\n

Quantuma specialises in restructuring and insolvency, corporate finance and forensics. It has 17 UK offices, including Manchester, Bradford, Birmingham and Nottingham, alongside outposts in Cyprus and Mauritius.<\/p>\n

The purchase will see an initial payment of \u00a326.95m, paid through a combination of cash and shares, with a maximum earnout of \u00a315m and growth shares.<\/p>\n

\"\"

Quantuma chief executive Carl Jackson<\/p><\/div>\n

Quantuma’s chief executive Carl Jackson, who becomes an executive director at K3, believes the combined firms “will provide an independent and compelling proposition in the mid-market”.<\/p>\n

He said: “Demand for Quantuma’s services is already high and we anticipate this gathering pace as the government withdraws its Covid-related financial support.<\/p>\n

“In addition to the merger being a strategically strong fit, we believe that becoming part of a listed plc will enable us to take on more significant mandates and provide greater access to larger corporates, both at home and overseas.”<\/p>\n

Quantuma generated pre-tax profits, before members’ remuneration, of \u00a37.8m in the year to March on revenues of \u00a323.2m.<\/p>\n

It has been growing strongly, having doubled turnover in the last three years. But K3 still believes the Quantuma business “can be scaled significantly”.<\/p>\n

The acquisition is attractive because of the counter-cyclical nature of the the corporate recovery and insolvency market. The addition of Derby-based ranndd UK and Quantuma also diversifies K3’s offer<\/p>\n

Rigby added: “K3 Capital Group has become a professional services group which incorporates the UK market leader in company sales and one of the most established R&D tax reclaim businesses in the UK, which together with Quantuma, creates a group with diversified income streams, recurring revenues, multiple and complementary channels to market and significant cross selling opportunities.”<\/p>\n

Manchester law firm TLT advised K3 Capital on the acquisition.<\/p>\n

TLT also recently advised K3 on a successful \u00a330.45m fundraising round as well as the recent purchase of randd UK for \u00a39.27m which completed on July 1.<\/p>\n

At the same time as the Quantuma acquisition, K3 also put in place a growth share scheme in order to incentivise key employees going forward and carried out a group reorganisation, both of which TLT also advised upon.<\/p>\n","protected":false},"excerpt":{"rendered":"

Combined businesses creates ‘compelling proposition’ in the mid-market<\/p>\n","protected":false},"author":18,"featured_media":2022979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"coauthors":[81],"class_list":["post-2064230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","tag-top-story"],"yoast_head":"\nK3 Capital expands again with \u00a342m deal for corporate recovery firm Quantuma | TheBusinessDesk.com<\/title>\n<meta name=\"description\" content=\"Combined businesses creates 'compelling proposition' in the mid-market\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2064230-restructuring-firm-bought-in-42m-deal\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta 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