A team from Transcend Corporate (“Transcend”) led by Ian Aldridge has advised the partners of The Nortons Practice (“Nortons”) on the sale of the business to Vistra Group Holdings (“Vistra”).
Nortons is a firm of business advisers which specialises in helping entrepreneurial, venture capital backed, and ambitious businesses expand their operations in local markets and internationally through its NIS Global network by providing outsourced accounting, audit, taxation, company secretarial, payroll, and HR services.
Vistra is backed by Baring Private Equity Asia, and is a global operation with over 2,200 employees operating in 58 locations across 39 jurisdictions, which provides tailored trust, fiduciary, fund, and corporate services.
Commenting on the transaction, Andrew Norton, Managing Partner of Nortons, said “Whilst we will be staying with the business, this transaction presents an exciting opportunity to take Nortons to its next level of potential. Nortons is an excellent, established business operating in a strongly growing market, with proven service delivery, and very strong client relationships. There is a substantial opportunity to cross-sell services into Vistra’s client base, and to accelerate our global growth as a member of the Vistra group of companies.
Andrew Norton and Pete Doyle, the partners of Nortons, commented “We have had a lot of interest in our business, however Transcend has proved to be an excellent adviser, assisting us in negotiating the right deal, and guiding us through a complex process to a successful completion.
Ian Aldridge, partner at Transcend, said “We are delighted to have been able to help Andrew and Pete achieve their objectives in crystallising the value in their business, and in securing an exciting opportunity for their staff to expand operations in a fast growing and exciting global financial services market.