MHA | MHA support Eleco plc (AIM: ELCO) on their acquisition of agile…

MHA support Eleco plc (AIM: ELCO) on their acquisition of agile and innovative software development company, Vertical Digital

April 17th 2024
Anton maksimov 5642 su wrk N Qmhmdv Y unsplash

The Board of Eleco plc, specialist software provider for the built environment, has announced its wholly owned subsidiary Elecosoft Ltd has acquired 100% of the share capital of Vertical Digital group of companies.

The acquisition, supported by Rob Dando, Head of Transaction Services at MHA, as well as Stela Ivancheva and the team, Baker Tilly South East Europe (Cyprus and Romania), will provide Eleco with the ability to increase the Group’s product offering, focusing on customer centricity and service, in order to scale customers by connecting systems and providing technical consulting to support their digital transformation journey.

The Vertical Digital Group of companies which consist of Vertical Digital SRL and Sons or Coding SRL has a proven track record of providing agile and innovative software development, technical consulting and upskilling solutions across many European and multinational end-customers including Lufthansa Technik, VW Financial Services and Zoopla.

Rob Dando, Head of Transaction Services at MHA said: 

“It has been a pleasure supporting Jonathan Hunter, Neil Pritchard and the team at Eleco on this deal which will drive the business forwards in terms of enhancing their product and service capability further.

A special thanks also to our international Baker Tilly colleagues, who provided invaluable advice throughout this transaction. Our cross-border capabilities ensure we are best-placed to provide the most beneficial deal advice for our clients.”

Jonathan Hunter, Chief Executive Officer of Eleco plc, said:, 

“We are pleased to welcome Vertical Digital to the Group, which will accelerate our ability to support our customers in solving the challenges they are face in delivering their digital transformation strategies. Eleco is now better positioned to provide a broader range of solutions and engage with more of its customers and partners on their strategic technological direction.

We are impressed with the calibre of customers that Vertical Digital have serviced and the experience and talent of our new colleagues. In addition, we are delighted that the two founders of Vertical Digital are committed to supporting the growth ambitions of the Group.”

Find out more

If we can help with your business acquisition strategy, please get in touch with one of our corporate finance advisers.

Contact the team
Share this article
Related tags