Equiteq advises Apax Partners LLP and Kelvin UK Bidco on its £203m offer to acquire Kin and Carta Plc

October 19, 2023

Equiteq, the global independent boutique investment bank, is pleased to announce that it has acted as financial adviser to Apax Partners LLP (“Apax”), a global private equity advisory firm, and Kelvin UK Bidco (“Bidco”), a newly formed company owned indirectly by funds advised by Apax Partners LLP, on its £203m offer to acquire Kin and Carta Plc (“Kin and Carta”).

Headquartered in London, Kin and Carta is a global digital transformation business with over 1,800 consultants, engineers, and data scientists, globally. As a DX consultancy, Kin and Carta serves businesses across the healthcare, financial services, industrial and agriculture, retail and distribution, transportation, and public sectors, amongst others. Kin and Carta delivers connected outcomes for clients through digital innovation, cloud modernization, data enablement, and digital optimization. Kin and Carta is a certified B Corp and became the first publicly traded business on the London Stock Exchange to earn this accreditation.

Rohan Haldea, Partner at APAX said, “We are impressed by Kin and Carta's unique culture, talented team, and focus on customer impact as evidenced by their B Corp status. We have followed the company closely for several years and we have witnessed firsthand how their focus on innovation and strong platform in the Digital Transformation sector has made Kin and Carta a partner of choice for clients grappling with complex technology problems.

Haldea adds, “We believe there is significant opportunity to enhance Kin and Carta's prospects as a private company, including by pursuing acquisitions that would enhance further its competitive position. As significant investors in the space, we hope to draw on our network, experience, and operational expertise to support management and the wider team by investing in the business to enhance the value for customers, employees, and other stakeholders, building on the firm's success to date.”

John Kerr, Chair of Kin and Carta commented, "We believe the offer to acquire Kin & Carta by Apax Partners Funds represents an excellent opportunity for the company to accelerate ambitious growth plans and scale the business, building on the acquisition and integration of leading data and technology companies, the development of valuable technology partnerships, and the creation of a strong portfolio of enterprise clients.”

The acquisition is expected to complete during the first calendar quarter of 2024.

Equiteq acted as financial advisor to Apax Partners LLP and Bidco.

Commenting on the transaction, Jerome Glynn-Smith and Emmanuel Kostucki, Managing Directors at Equiteq in London said: “We’re thrilled to have been a part of the team advising Apax Partners and Bidco on its transaction with Kin and Carta, a company we believe is one of highest quality platforms in the DX space. We wish both teams the best pending completion and look forward to the continued success of the platform. This is another transaction that exemplifies Equiteq’s expertise in the technology transformation and software development segments.”

For media enquiries, email Equiteq at marketing@equiteq.com

 

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