Dains Corporate Finance provides due diligence services on Kerv Group acquisition
The Dains Corporate Finance team has recently performed financial due diligence on Monochrome Consultancy Limited (Monochrome) for the purpose of the acquisition of this company by Kerv Group Limited (Kerv), a portfolio company of LDC.
Monochrome was founded in 2017 and provides consultancy services for digital transformation in IT, complex business change, cybersecurity and project management. Monochrome is the eighth addition to the Kerv group.
Kerv’s Executive Chair, Alastair Mills, said “Adding a unique consultancy capability to our portfolio, Monochrome Consulting also brings professional technical capabilities. Having an expert advisory practice will enable us to engage earlier and help shape the fortunes of our customers’ digital transformation programmes.”.
Kerv’s Managing Director, Mike Ing, added “The 37-strong Monochrome Consulting team has deep skills which will bring broader technological scope to our customers. We are pleased and proud to welcome them into our family and are looking forward to progressing this exciting journey to deliver best-in-class, innovative solutions.”
Kerv was formed in July 2020 in partnership with mid-market private equity house, LDC, to build a cloud-centric business model focused on the provision of IT managed services, DevOps, digital transformation and cybersecurity.
Roy Farmer, Rob Wilson and Kam Atwal undertook financial due diligence on Monochrome.
Our work included a review of the historic and forecast financial performance, as well as a quality of earnings review, normalised working capital, and surplus cash/net debt calculations.