HCR’s corporate team in the South East advised on the acquisition of Quantuma Advisory by professional services firm K3 Capital Group – the team, led by Robert Rice and Rachel Turner, advised Quantuma.
The deal completed for a cash free, debt free initial consideration of £26.95m to be satisfied through a combination of cash and ordinary shares of 1p each in the company, in addition to maximum combined earn outs of £15m and an additional 645,513 growth shares.
Quantuma’s acquisition is designed to enhance its capabilities in restructuring, corporate finance, tax advisory, forensic accounting and expert witness services. It will support K3’s strategic aim of building a wider group of growing and complementary professional services businesses, especially the corporate recovery and insolvency market, considered to be a highly desirable market by virtue of its counter-cyclical nature.
Carl Jackson, CEO of Quantuma, who now takes a seat on K3’s board, said of HCR: “Having accepted the offer from K3 to acquire Quantuma, we knew we needed a legal team that understood our business and that could work with our senior team seamlessly across a number of specialist areas to ensure that we were able to meet an extremely demanding timetable.
“Having known Rob and Rachel at HCR for some time, we were confident that they would be front and centre with us throughout the deal – day and night – and they didn’t disappoint. They and their teams at HCR worked tirelessly through a huge amount of detail and issues while ensuring that we were able to focus with them on the crunch points. I would absolutely recommend them.
“We’re hugely excited about taking Quantuma on to the next stage with K3 and to continuing our relationship with HCR.”
The HCR team included Suzie Palmer and Bronia Richards (corporate), Tarnjeet Rehal (real estate), Peter Orton (employment) and Dan Hyde (regulatory)