Deal Alert: Menzies and PDT unite to execute cross-border merger

Advisory teams from both Menzies LLP and PDT Solicitors have assisted in paving the way for a strategic, cross-border merger between the UK based management consultancy, Retail Business Research (RBR), and Boston-based, Aite-Novarica Group (ANG).

Kevin Paget and the Menzies team advised the shareholders of RBR on the merger. Working closely with Noel Ruddy and his corporate transactions team at PDT Solicitors, Menzies LLP were able to optimise the deal on behalf of the shareholders.

The cross-border, strategic merger unites RBR, the leading provider of strategic research and data on banking automation, cards, payments, and retail technology, and ANG, an advisory firm providing mission-critical wisdom on technology, regulations, markets, and operations to banks, payment providers, insurers, and securities firms. The united firm will be headquartered in both Boston (USA) and London.

Commenting on the deal, Dominic Hirsch, MD of RBR, praised both advisory teams saying:

“Both advisory firms demonstrated a strong understanding of the marketplace and the proposition of the combined business. The cross-border nature of the deal meant due diligence had to be robust and the deal itself was well put together and well evidenced. I am delighted with the outcome and look forward to working alongside colleagues within the combined business as we forge an exciting new growth story.”

“My sincere thanks go out to Kevin Paget, Menzies LLP, and Noel Ruddy, PDT Solicitors, and their respective teams for all their efforts throughout the process.”

kevin paget b&w

Commenting on the deal, Kevin Paget, corporate finance director at Menzies LLP, said:

“This transaction has been immensely satisfying for the advisers as much as for our client. It is rare that you have the opportunity to facilitate such an excellent strategic match in bringing together two companies that share cultural similarities and benefit from strong, complementary skillsets. I am looking forward to seeing the combined business go from strength to strength.”

Noel Ruddy, head of corporate at PDT Solicitors, added:

“The shareholders and management of RBR have created a strong brand with some fantastic clients. With the additional scale that ANG will bring, RBR will be able to expand its offering across a number of new channels. We were pleased to have been able to work with the team at Menzies LLP and wish Dominic and his team the very best for the future.”


Our award-winning team take a quality driven, proactive and personal approach to advising transactions. Our corporate finance team will provide you with director-level advice and support, while working alongside other Menzies employees from the wide ranging skill set available within the firm, to ensure that the advice we give encompasses all your needs.

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