Sale of IT Change Management & Training Consultancy
Hornblower Business Brokers was instructed to sell established IT Training and Change Management Consultancy, Bright Affect Ltd, with a near‑decade track record supporting blue‑chip clients in the life sciences sector. The business had positioned itself as a recognised specialist in the field of training and change management for the life sciences industry and had built a robust client base featuring high‑profile blue‑chip organisations.
The company delivered bespoke training, support and consultancy services to help global organisations optimise the adoption of new software systems. A key strength was its highly skilled team of consultants across project management, business analysis, change management and training, supported by a second‑tier management team who effectively run the business on a day‑to‑day basis.
With consistent revenues of £1.1m+ over the previous three years and Adjusted EBITDA averaging c.£560k, the business represented a compelling opportunity for a buyer seeking a scalable, well‑systemised consultancy with strong recurring demand.
The Vendor’s Objectives
The shareholders sought a full exit to pursue new ventures, while ensuring continuity for their long‑standing client base. They were particularly keen to find a buyer who would value the company’s reputation, its specialist team, and the significant growth potential of its proprietary Learning Management System (LMS).
The Buyer
The successful acquirer was a specialist Private Equity firm, Perrin & Partners, with a strong track record of acquiring and developing technology‑enabled service businesses in the SME sector. The buyer was attracted by:
- The consultancy’s blue‑chip life sciences client base
- Its strong margins (85% gross profit in 2023)
- The embedded management team
- The opportunity to scale the LMS into a standalone revenue stream
The business aligned well with the buyer’s strategy of acquiring niche, high‑margin B2B service companies with defensible expertise and long‑term client relationships.
The Deal
Following a targeted marketing campaign, Hornblower generated interest from multiple trade and private buyers. The eventual deal structure balanced the vendors’ desire for a clean exit with the buyer’s need for a smooth handover, supported by the existing management team.
The transaction proceeded efficiently, with financial and legal due diligence confirming the business’s strong fundamentals, including its diversified revenue base. No client represents more than 15% turnover.
Hornblower’s Role
The sale was led by Derick Humphrey, Business Sales Consultant at Hornblower. Derick managed the process from valuation through to completion, including:
- Preparing the Information Memorandum and financial analysis
- Running a discreet, targeted marketing campaign
- Managing buyer enquiries and negotiations
- Coordinating due diligence and deal progression
Derick’s experience in selling specialist consultancies was instrumental in positioning the business to attract the right calibre of buyer.
Legal Advisors
The vendors were represented by Cook Corporate, whose commercial team ensured a smooth legal process and provided pragmatic, deal‑focused advice throughout.
Outcome
The sale achieved an excellent result for all parties:
- The vendors secured a strong valuation and a clean exit
- The buyer acquired a profitable, well‑systemised consultancy with significant growth potential
- The management team remained in place, ensuring continuity for clients and staff
The business is now well positioned to expand its LMS offering and deepen its presence in the life sciences sector under new ownership.
SOLD – August 2024