International legal practice Osborne Clarke has advised the selling shareholders of IT products and solutions specialist Tangible Benefit on the company's sale to Bechtle AG, Germany’s leading IT system house and a key player in Europe’s IT services market.
Founded in 1997, London-based Tangible Benefit has an excellent reputation and it is a well-known name in the industry, achieving revenues of some 70 million euros in the 2021/22 fiscal year. Its core business is hardware procurement including related plug-and-play services and software licensing, complemented by security and network services and lifecycle management.
Tangible Benefit’s rationale for selling its profitable business is to secure a succession plan along with attractive development potential for its 66 employees. Company founder, Timothy Trotman, will remain with the company for the transition phase and will closely oversee its integration into the Bechtle Group together with James Napp, Managing Director of Bechtle direct UK, before handing over the baton. All other senior managers will remain in their current positions, guiding operations at the London office.
With Tangible Benefit, Bechtle employs some 280 staff across four sites in the country. Consolidated revenues total around 200 million euros.
Osborne Clarke's team who advised on the matter was led by Corporate Partner Alistair Francis who was supported by Associate Harry Stewart. Associate Director Karmeni Ilg and Senior Associate Ben Doeh advised on tax matters, while Senior Associate Lauren Baker provided employment advice.
Osborne Clarke’s Corporate team is a go-to practice for companies in the Tech, Media and Comms, and Fintech sectors. Its clients range from global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.