Ashcroft LLP Leads the Sale of UK’s Respected Cybersecurity Company Fidus to IT Managed Services Provider Wavenet
Cambridge-based accountancy and corporate finance advisory firm, Ashcroft Partnership LLP, has once again proved its expertise in the cybersecurity sector by leading the sale of independent cybersecurity consultancy, Fidus Information Security, to IT managed services provider Wavenet.
Fidus Information Security, established in Cambridge in 2017 by Kurtis Baron and Andrew Mabbitt, has made a name for itself as one of the UK’s leading providers of advanced penetration testing services to both the private and public sector. With its rapid year-on-year growth, the company has won over a host of major government departments, FTSE listed PLCs, and leading financial institutions from around the world.
Ashcroft was appointed by the founders to identify a buyer for the business and managed a highly competitive sale process before advising on all financial and commercial aspects of the deal. The company was supported by a team from local law firm HCR Hewitsons, who advised on all legal aspects of the transaction.
According to David Ball, who led the deal from Ashcroft, “The deal is another example of our ability to support fast-growing cybersecurity businesses and work with shareholders and management teams to support their growth journey and position them for an eventual exit.”
Kurtis Baron, co-founder of Fidus, expressed his gratitude for the support and advice from Ashcroft and HCR Hewitsons throughout the often challenging sale process. With the partnership with Wavenet, Baron looks forward to the next phase of the company’s journey.
HCR Hewitsons’ James Lawrence also shared in the excitement, saying, “We are delighted to have assisted Fidus in achieving a successful sale and playing a part in the transition of the business into the Wavenet group.”
This latest sale is just one in a growing list of credentials for Ashcroft in the cybersecurity sector, adding to their previous success in advising on the sale of NotSoSecure to Claranet Group, Armadillo Sec to Chess Ltd, and 7safe to PA Consulting.
Visit Ashcroft LLP’s website to learn more about their corporate finance services and expertise in the cybersecurity sector.