TLT supports K3 Capital with £42m expansion deal

5th August 2020, 10:53 am

UK law firm TLT has advised long-standing client K3 Capital Group plc on the £42m acquisition of restructuring and advisory firm Quantuma, its second significant deal in as many months.

Established in 1998, Greater Manchester based K3 is a multi-disciplinary professional services firm providing advisory services to SMEs. Quantuma specialises in restructuring and insolvency, corporate finance and forensics. It has 17 UK offices, including Manchester, Bradford, Birmingham and Nottingham.

The acquisition of Quantuma is a significant milestone for both companies, allowing K3 to expand its proposition in the market and have greater access to larger corporates both in the UK and abroad.

In addition to this deal, TLT recently advised K3 on a successful £30.45m fundraising round as well as the recent purchase of randd UK – a private company specialising in securing R&D tax credits – for £9.27m which completed on 1 July. 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.

Corporate partner Ian Roberts, who drew on expertise from across TLT including real estate, financial services and employment, led the team. The team comprised partner Liz Delaney, advising on capital markets aspects of the transactions including new board appointments, associate Nicola Bilner and solicitor Seraphina Wilkins who advised on corporate matters, partner Ben Watson and associate Lucy Hedges who advised on the growth share scheme, and legal director Dan Whitewood who advised K3 on the company reorganisation.

Ian Roberts, partner at TLT says: “We are pleased to be supporting K3 Capital with its growth ambitions as the company moves towards a fuller professional services offering.

“The recent successful fundraising round, and acquisitions of both Quantuma and randd, demonstrate confidence in the market and North West region despite current economic uncertainties.”

John Rigby, CEO at K3 Capital Group says: “We believe that both randd and Quantuma are 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.

“We’re very grateful to the team at TLT for their incredible efforts to get these deals over the line in such a short space of time – a testament to our great working relationship.”

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