deals 10 deals of HMT – the MBO of Tessella


To celebrate its 25th anniversary of leading corporate finance deals, HMT is reminiscing on 10 notable transactions from its archives. Having completed over 500 deals, producing a shortlist of 10 has not been easy but the MBO of Tessella led by former CEO Alan Gaby has certainly made the list


Founded in 1980 by Kevin Gell, Tessella is an international provider of science-powered technology and consulting services. Tessella uses data science to accelerate evidence- based decision making, allowing businesses to improve profitability, reduce costs, streamline operations, avoid errors and out-innovate the competition.


In 2012, Gell decided it was time for him to retire and realise his investment. Gaby, who joined Tessella as a director a few years before, was the perfect candidate to lead the management buyout funded by Mobeus Equity Partners.


Having never worked with private equity before, Gaby was looking for a trusted adviser with strong private equity deal credentials. He got in touch with Andrew Thomson and appointed HMT to support him and the management team on the transaction. HMT negotiated the deal with the vendors and Mobeus and provided support on more complex areas of the transaction such as the tax structure.


In July 2012, Gaby and Tessella’s management team acquired the business supported by Mobeus. The MBO of Tessella was awarded deal of the year at the Thames Valley Deal Awards in 2013.


Gaby and his team ran the business for three years and sold Tessella to global engineering giant The Altran Group in December 2015. Gaby stayed on through the new ownership and has recently left Tessella after 11 years in the business. He now uses his experience at Tessella to act as a non-executive chairman for a business in the technology sector.


hmtllp.com


Deals Update – instant and online from March 1


To ensure that your corporate finance deals are seen by the dealmaking community soon after completion, they will be posted in Deals update ONLINE at businessmag.co.uk, as we receive them


This month’s page in The Business Magazine will be the last Deals Update in print – this follows our move to a bi-monthly publication. Now your deal will be posted online as quickly as we get it


A five-line listing will be free: Name of Deal Completion Date Target Acquirer Value (where disclosed)


To include any further data – description of the deal, legal advisers, corporate finance advisers, funding, due diligence team – the fee is £150 ex VAT. This will include social media coverage (Twitter, LinkedIn and Facebook) to spread the word.


To book your deal, email peter@elcot.co.uk THE BUSINESS MAGAZINE – MARCH/APRIL 2018 businessmag.co.uk 47


Alan Gaby “HMT is trustworthy, insightful and pragmatic”


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