Tech group The Panoply acquires consultancy firm Ameo

Mon, 30 Mar 2020 | BUSINESS SALE



Business consultancy firm Ameo has been acquired by AIM-listed technology group The Panoply in a deal worth £7 million in cash and shares.

Ameo is a mid-sized business change consultancy that employs a team of around 30 consultants and staff from offices in Colmore Gate in Birmingham and Studley in Warwickshire. It was founded in 2010 and has worked with over 100 clients across many sectors.

In Ameo’s most recent accounts, from the year ending October 31 2019, it registered current assets of £2.8 million, up from just over £2 million the year prior. Less current liabilities, it held total assets of a little over £1.7 million.

Ameo is debt free and, through the deal, its shareholders have received £2.2 million in cash and around 5.9 million newly issued shares in Panoply, increasing its total issued share capital to 55.1 million. Panoply will pay a further £1.3 million on completion of the acquisition.

Ben Ward, Director at Ameo, said: “This deal will take us to the next stage in our evolution by expanding our existing service capabilities and expertise to bring new leading-edge solutions to our clients’ challenges, particularly across service redesign, robotic process automation and applied artificial intelligence.”

The acquisition allows Panoply to grow its advisory offering whilst also adding a CxO/senior management client base and boosting its public sector practice, with over 90 per cent of Ameo’s revenue in its latest financial year coming from public sector work.

Panoply CEO Neal Gandhi said: “Ultimately, this acquisition increases our relevance and puts us in a stronger position to target and win larger, more strategic engagements at the heart of the UK public sector.”

“Our focus is to deliver positive, sustainable change in the public sector and Ameo's track record of work in central and local government, healthcare and higher education broadens our capability to achieve this goal for our clients.”


Share this article



Latest Businesses for Sale

Care Recruitment Agency
UK Wide

Highly profitable, niche operation supplying high-quality recruitment solutions for over 18 years. Specialises in the provision of healthcare assistants and support workers for residential care homes. Strong database of over 300 professionally traine...

Asking Price: Offers Invited
Turnover: £2,500,000

LEASEHOLD


Application Development Practice Providing Bespoke Business Systems
South East, UK

Builds & implements bespoke business systems crafted to an exceptional standard including web-based digital tools social collaboration solutions & web product development for blue-chip SME & start-up clients operating in a range of industries. The co...

Asking Price: Offers Invited
Turnover: £1,900,000

Independent Stockbroker & Wealth Manager
London, UK

Provides discretionary, advisory and execution services to retail and professional clients throughout the UK and internationally. Delivers unbiased and transparent information, advice and strategies, which are tailored to meet its clients’ unique in...

Asking Price: Offers Invited
Turnover: £2,000,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
14
 
Aug
 

Trafford Centre up for sale after Intu administration | COMMERCIAL PROPERTY

Manchester’s Trafford Centre shopping mall is up for s...

 
13
 
Aug
 

Administrators bring three former Shepherd Cox Group hotels to market | DIVISION SALE

Administrators have put three hotels in the North of England...

 
12
 
Aug
 

Baird Group to close stores as CVA is approved | BUSINESS NEWS

Retailer and wholesaler Baird Group, the license holder for ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources