A multi-disciplinary team from across TLT's offices has advised the sellers of York-based Software Box Limited (trading as SBL) on an acquisition by Glebe Holdings Limited, an acquisition vehicle controlled by technology entrepreneur Phil Doye.
SBL is a leading provider of technology solutions and services to the public sector. From its heritage as a software licence specialist and Microsoft License Solution Provider, it has deep expertise within the defence and security sector.
Phil Doye was previously CEO of IT services and solutions provider and Sunday Times Fast Track company, Kelway. In 2015, Kelway was acquired by US Fortune 250 technology giant, CDW.
The deal will see Glebe Holdings acquire 100% of SBL providing additional follow-on funding for growth.
TLT acted on the end to end transaction, led by corporate partner Ian Roberts alongside associate Kelly Clarke, solicitor Seraphina Wilkins and trainee Laura Collins (corporate); legal director Mark Braude and solicitor Andree Parker (tax); partner Ben Watson (head of employee incentives); solicitor Anna Barclay (commercial); legal director Jessica Foster and associate David Birchett (employment); legal director Damien Garrould (pensions); associate Ben Jackson and solicitor Chris O'Toole (real estate).
Dennis Hoban, SBL's CEO and majority shareholder, says: "This new ownership will really help to drive the business forward. TLT shared our ambitions and delivered an excellent service to transition us into the next stage of growth. Ian and the team were extremely knowledgeable about the transformative digital sector and helped us to secure the best possible deal."
Ian Roberts, partner at TLT, says: "We are delighted to have secured this investment for SBL and excited to see them enter this next stage of growth. SBL has built an impressive client portfolio on the foundations of strong technical skills and the sale will enable them to strategically navigate the complexity of today’s IT environments."