Wellers commercial team have completed a multi-million pound sale of ITRS Group, a global provider of real-time monitoring systems for the world’s financial institutions, in partnership with its founders and management to the global alternative asset manager The Carlyle Group.
ITRS is an award winning technology provider, focused on supplying the financial services sector. Carlyle will support ITRS’ international expansion and is committed to broadening of the company’s specialised product offering. Furthermore, this investment will facilitate ITRS’ diversification and continue to enable clients to be at the forefront of the market’s evolving demand.
The deal involved corporate solicitors at Wellers working closely with the management team to advise them on the following :
• the position of the four trading subsidiaries of the company situated in London, Hong Kong, USA and the Philippines;
• the exercise of options by option holders, some of which were comprised in an Enterprise Management Incentive scheme;
• negotiations as to completion of the exercise of the options, the grant of shares to option holders and agreeing terms of sale of the shares granted;
• terms of share entitlements and loan instruments issued to some vendors in The Carlyle Group; and
• the complex technical and commercial software issues of the business.
Wellers comprehensive understanding and expertise in relation to sales and acquisitions made for an efficient and successful completion.
The Wellers team was led by led by Jonathan Cooke, assisted by Andrew Cooke and Daniel Sanders.
