Menzies LLP advises the shareholders of More IQ Group Limited (“More-IQ”) on the sale of the business to Solvares Group, backed by Five Arrows (the alternative assets arm of Rothschild & Co) and Deutsche Beteiligungs AG (“DBAG”).
More-IQ is a cloud-native SaaS provider specialising in real-time scheduling and optimisation of mobile workforces. Founded in 2021 and based in Bedford, the business supports organisations with dynamic scheduling and cost-based optimisation solutions, balancing operational efficiency with service quality across the field service, social housing, maintenance and service delivery sectors.
Solvares Group is a leading European provider of resource optimisation and workforce planning software, enabling organisations to plan and manage field service, sales and transport operations through data-driven technology. Headquartered in Germany, the group brings together specialist brands including FLS, impactit, Städtler Logistik and Opheo Solutions to deliver advanced scheduling, routing and logistics solutions. The business is backed by DBAG and Five Arrows and represents a rapidly growing platform in the European optimisation software market.
Menzies acted as sell-side adviser to the shareholders of More-IQ, supporting them throughout the transaction and project managing the process to completion. Our role included negotiating heads of terms, providing commercial input into the SPA, and leading and coordinating the due diligence process to ensure efficient execution. In parallel, we delivered tax advice to both the company and the individual vendors to optimise the transaction structure and advised on the terms of the shareholders’ rollover investment to ensure alignment with their strategic objectives.
The transaction was led by Greg Cox, Partner in the Menzies Deal Advisory team, with transaction support from Holly Caunt and Tom Alvarez, and tax advice provided by Rebecca Wilkinson, Tax Partner at Menzies.
Menzies was appointed based on its strong track record advising on complex private equity transactions and its ability to navigate the commercial, structural and tax considerations inherent in such deals. The shareholders sought an adviser with deep PE experience who could manage negotiations, coordinate diligence and maintain momentum through to completion, while working collaboratively with the vendor management team.
“We appointed Menzies because of their strong track record in advising on complex private equity transactions and their clear understanding of the commercial and tax dynamics involved. Greg and the team worked alongside the vendor management team throughout the process, providing strategic guidance, robust negotiation support and hands-on project management during what was an intensive transaction. Their collaborative approach and ability to maintain momentum were instrumental in achieving a successful completion with Solvares Group and its investors, DBAG and Five Arrows. We are grateful for their support and would not hesitate to recommend them.”
Nicholas Shipton, Co-founder at More-IQ commented:
“This was a complex private equity transaction, and we’re delighted to have supported the shareholders of More-IQ through to completion with Solvares Group and its investors. Our focus throughout was on protecting value, maintaining momentum and delivering certainty of outcome. It was a pleasure to work alongside the vendor management team and help position the business for its next phase of growth.”
Greg Cox, Deal Advisory Partner at Menzies, commented:
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