Moorcrofts advises on sale of ADB (UK) Limited
Law firm Moorcrofts LLP has advised the shareholders of ADB (UK) Limited, a leading procurement software and services provider, on the company’s sale to Elcom Systems Limited.
Liverpool-based ADB is a longstanding client of Moorcrofts, and the company focuses on simplifying business processes in order to deliver cost savings and efficiencies. ADB’s solutions include MultiQuote (an eProcurement and eSourcing platform which is used widely in the UK public sector), SavingScope and SourcingCloud. ADB’s key customers include various NHS trusts and other public bodies.
Elcom was the world’s first cloud-based eProcurement company, and it currently operates from offices in the UK, USA, Serbia, South Africa and Australia. Elcom’s clients include the Scottish Government and the Northern Ireland Assembly.
ADB managing director, David Marley, stated:
“We are absolutely delighted to become part of Elcom, as they share our commitment to providing eProcurement and eSourcing platforms to clients in the UK and overseas”.
Moorcrofts’ corporate partner Peter Woolley led the deal, with support from corporate solicitor Mohsin Shabbir. Commercial property support was provided by partner Julia Ferguson, commercial / technology support was provided by partner Tim Astley and solicitor Majid Mahmood, and employment support was provided by solicitor Lindsey Abbott.
ADB managing director, David Marley, commented on Moorcrofts:
“We really do appreciate Moorcrofts’ hard work and particularly their experience in this process. ADB has used Moorcrofts exclusively for all our legal advice over the last 12 years. Moorcrofts’ sensible and pragmatic approach enabled us to maintain momentum, and was a significant factor in enabling the deal to be completed on time, which was impressive.”
Moorcrofts’ Peter Woolley said:
“We were delighted to act for the ADB shareholders on this transaction, which included a preliminary share restructuring and pre-sale exercise of EMI options. We wish them every success in their new roles with ADB, and we hope that the financial support which Elcom is able to provide will enable ADB to grow and achieve its strategic ambitions.”
Cowgill Holloway LLP provided corporate finance and tax advice for the ADB shareholders on the transaction.