Shaw & Co, the Bristol based corporate finance advisory firm, has advised on the successful sale of London-based software company Keep It Simple Ltd (KITS) to The Panoply Holdings PLC, a technology-enabled services group.
KITS provides IT support and transformation services to public and private sector clients. Its clients include the Rural Payments Agency and the Department for Environment, Food and Rural Affairs (DEFRA).
The acquisition of KITS enables The Panoply to pursue ever larger contracts across both public and commercial sectors. KITS will sit under the Foundry4 brand as part of the deep tech ‘engine room’ of the Group. Foundry4 helps organisations in highly regulated sectors harness technology to solve complex challenges, focusing on CTO/CIOs looking to enable digital transformation through the adoption of hyper scale cloud, data analytics, AI and machine learning and automation.
Grant Harris, Chief Executive Officer of Keep IT Simple said: “This acquisition marks a milestone in our growth journey, as we become part of a modern, agile and rapidly scaling Group which is set to become a key player in our field. The support of The Panoply will fuel our ambitious plans for expansion, as we roll out our leading capabilities to a wider set of clients.”
Neal Gandhi, Chief Executive Officer of The Panoply said: “The Board and I are delighted to have found another ethical business to join our purpose-driven Group. Together, I am confident we can drive positive change through technology, in a responsible way, and I look forward to seeing what we will achieve.”
Leading the deal for KITS, Jim Shaw, Founder and Partner at Shaw & Co, said: “The story of KITS is a phenomenal one. Grant has built a team of standout experts that are making a real difference to their clients. Digital transformation is top of the agenda for all organisations at present and KITS is an exceptional provider in that space. We were delighted to advise KITS on its strategic options and ultimately a deal with The Panoply.”
Tim Roberts, Corporate Finance Director at independent UK law firm Burges Salmon, led the team that provided legal advice to KITS on the sale. Roberts commented: “We have thoroughly enjoyed working alongside KITS CEO Grant Harris and the team at Shaw & Co on the sale. We’ve seen a real uptick in deal flow over the last six months demonstrating that the appetite for successful UK companies remains strong, particularly in the tech space and this deal is a great example of strategic M&A being executed successfully. We wish Grant and The Panoply all the best in growing the business together to deliver KITS’ expertise in the sector to a wider audience.”