Inspire Professional Services Ltd have successfully advised their client C4L Group Holdings Limited on the sale of their IT business.

Published 03 May 2016

C4L Group Holdings Limited are a successful and growing network services and data centre hosting business.

C4L was sold to Selection Services Investments Limited, a wholly-owned subsidiary of Castle Street Investments PLC, a company quoted on the AIM market operated by London Stock Exchange plc (AIM: CSI). The sale was for a total consideration of £20.2 million, which was paid in a combination of cash and shares in CSI. As part of the transaction, two of the selling shareholders Mathew Hawkins and Simon Mewett joined the board of directors of CSI.

The senior members of the Inspire team included Warren Munson, Andrew Singleton, Chris Downing, Helen Holman, Ruth Bignell and Ben Joicey, who provided advice and assistance throughout the transaction on a broad range of financial and tax advice related matters.

Warren Munson said: “We have worked alongside C4L and the shareholders for a number of years on their entrepreneurial journey as they have grown the business giving them advice on matters associated with their growth, tax planning and funding.  As such it is great to advise them upon and see them realise value from their endeavours through this transaction and also see that the company and them as individuals have an exciting future ahead. As Managing Director of Inspire, it has been great to see the team effort and depth of experience and expertise that was deployed to ensure that the transaction was completed in an expedient fashion given the tight timescales imposed during the transaction.  Good luck to them all and the entire CSI team going forward.”

Chris Downing, Inspire’s Tax Director commented: “We are delighted to have assisted the selling shareholders of C4L, who have built a fantastic technology company during the years up to the transaction we implemented an EMI share scheme, claimed research and development tax credits and also made specialist capital allowance claims.  Therefore having provided this specialist tax advice and built a great relationship with Mathew, Simon and the team at C4L it was then great to have been able to provide them with advice on this transaction, where having a great relationship with them really did help.  Good luck to all!’’

Mathew Hawkins said ‘’We have really enjoyed working with the entire team at Inspire as we grew the business and prepared for and implemented this transaction.  Their advice has always been really beneficial to us and we have really appreciated how they built the relationship with us, which proved invaluable during the disposal process’’.

Corporate, Property and Employment legal advice was provided to the seller by Lester Aldridge, a firm which Inspire has successfully worked with on many occasions on such transactions and other matters.