Abingdon: Manches advises shareholders on £18m Tessella MBO
Law firm Manches advised the shareholders (other than the management team) on the management buyout of Tessella, an international provider of science powered technology and consulting services headquartered in Oxfordshire. Mobeus Equity Partners supported the buyout, and founder Kevin Gell retained a significant minority stake and a seat on the board.
The MBO valued Abingdon-based Tessella at £18 million. The Manches corporate team was led by partner David Tighe and included Zoe Pepper and Dominique Sabatini.Commenting on the deal, Tighe said: “It was a pleasure to work on this transaction. Tessella is a fantastic company, one of the most highly regarded and high profile businesses in the region, and it is a great example of the type of world class technology company that we specialise in representing. We’ve known Kevin Gell, the founder, for a number of years and so we were delighted to be able to support him and other shareholders on the sale of the company. We wish Kevin and Tessella well under its new ownership.”
Kevin Gell said: “I have known David Tighe for many years and used Manches successfully on various commercial matters. When deciding on advisors for the most important transaction of my career, the trust built up over time was the most important factor in my choice. Working with David, Zoe and Dominique was a real pleasure. Everything was done efficiently, issues were kept in perspective and more complex points were explained clearly. Throughout I was kept in touch with legal discussions without being bothered by every detail. When it came to completion, I felt confident that we had a good deal for all parties. I can recommend Manches wholeheartedly.”
