Corporate Finance, Transaction services
Gerald Edelman advises Coniston Peak on the £6 million acquisition of Workpays
We are delighted to announce that we have advised Coniston Peak Limited (Coniston Peak) on the £6 million acquisition of Workpays, a well-respected UK multi-disciplinary training provider, via a newly formed vehicle (Coniston Peak (WP) Limited).
About Coniston Peak
Founded by Alexander Glasner, Coniston Peak is an acquirer of small and medium-sized UK-based businesses, with a focus on growing the brand and market presence of their investments.
Workpays provides training service programs to businesses, individuals, and educational establishments across the Midlands area in the UK. Workpays delivers bespoke training programmes, which lead to recognised accredited qualifications and a workforce with enhanced skills. The company has over 100 employees and is forecast to grow turnover by 100% within the next five years.
Gerald Edelman acted as a buy-side financial adviser, providing advice on the capital structure of the SPV, performing detailed financial due diligence, reviewing of Workpays forecast model and negotiating and structuring of the purchase mechanism within the SPA.
Alex Glasner, Managing Partner of Coniston Peak, commented:
“We are extremely proud to have acquired Workpays and the Gerald Edelman Transaction team played a pivotal role not only in ensuring that this deal went through but that it went through smoothly. Their expert strategic advice was key in ensuring all investors and lenders were satisfied with all aspects of the deal – the accounts, the share purchase agreement, and the diligence.
At all stages of the transaction, I was fortunate to be able to rely on their experience and knowledge to negotiate the transaction and structure the deal in a way that worked for everyone. It goes without saying that I recommend the team at Gerald Edelman to anyone who needs M&A and business advisory services and I’m looking forward to working with them again soon.”