Grant Thornton Corporate Finance Limited (“Grant Thornton”) has successfully advised on the buyback of Irish software service provider, Client Solutions, from Tech Data.
The recently completed transaction was led by Client Solutions original management team, including the company founders Shemas Eivers and Teddy McCarthy. The company, which was acquired by Tech Data in 2017, as part of a larger transaction, currently has a team of over 150 consultants and has offices in Cork, Dublin, Barcelona, and uses a team run by a former employee in Wroclaw.
The Grant Thornton team was led by Michael Neary and Paul Murray.
Established in 1994, Client Solutions deliver value-driven software solutions and services for top companies across a broad range of industries, such as telecom, utilities, finance, healthcare, retail, and manufacturing. Client Solutions deals directly with the end-customer, as it has done since it was founded, while Tech Data is committed to providing products, services, and solutions through the IT channel.
With an already well-established reputation for delivering successful projects, Client Solutions have positioned themselves to accelerate business transformation with solutions that leverage the latest technology to ensure customers gain maximum value. The company has experienced significant growth as a result of this strategy and are preparing for the expansion of its Cork and Dublin offices.
“The Founders and Management Buyout (“FMBO”) is an exciting new phase in the history of Client Solutions and is a great opportunity to grow significantly based on a solid and tenured team,” said Shemas Eivers, original co-founder, and chairman. “The team has won many corporate awards and now wants to combine that corporate knowledge with the passion of employee ownership for the benefit of our existing loyal customer base.” Eivers continued to say that customers will see a new focus on expanding brand awareness while re-energising the ethos and culture on which the company was founded.
Shemas also stated that “The Grant Thornton corporate finance team provided invaluable support across all commercial and financial aspects of the transaction and were key in reaching a successful outcome for the team.”
Michael Neary stated that “We were delighted to assist the founders and management team of Client Solutions on their deal with Techdata and we wish them every success in the future”