W&B advises Elderstreet & Panoramic

W&B advised private equity funds Elderstreet and Panoramic on their recent divestment of software optimization expert Concorde Solutions to US based Ivanti. Elderstreet and Panoramic are leading UK equity investors in high-growth companies.

A seamless and reassuringly straightforward experience.

Andy Burton, Chairman of Concorde Solutions Ltd

Elderstreet has been established for over twenty years investing in a wide range of sectors. Panoramic was set up in 2009 by Stephen Campbell, David Wilson and Malcolm Kpedekpo and specialises in fast growth, entrepreneurial companies.

Concorde Solutions is a leading provider of SaaS software asset management solutions, specializing in managing software licensing complexity in the data centre across hybrid IT environments.

This acquisition is Ivanti’s ninth in five years. Concorde’s technology enables customers to manage and optimize software licensing on client-side applications and enterprise products (eg Oracle, Microsoft, VMware and IBM). Operating at the heart of software asset management, Concorde’s Core Control addresses license compliance, purchasing efficiency, change management and service management.

Andy Burton stated, ‘Software asset management is a critical discipline for any enterprise today and the team at Concorde has done an extraordinary job of addressing increasingly complex areas of IT governance, control and operational efficiency.’

‘Representing the Company and the primary Shareholders, White & Black were appointed to manage the legal process which involved three Private Equity/VCT funds, as well as Founders and a US based acquirer. With clear knowledge and providing direction on the points that really matter to PE sellers, White & Black were highly proficient in getting to the end result cost effectively. They demonstrated great collaboration and leadership when needed through great subject matter expertise, relevant experience in international transactions, timely and clear communication, and, programme management of the many tasks and stakeholders. As a firm, I found them to be true to their word, understated but effective, and vitally, achieved the goal set in short order to the satisfaction of the Sellers.

Working with Phil Riman and the team at White & Black on the successful sale of Concorde Solutions Limited to Ivanti Inc was a seamless and reassuringly straightforward experience. The process was extremely well executed within a tight timescale, with a great team effort from White & Back to cover off the different disciplines that are essential to a smooth change of ownership.”

Andy Burton, Chairman of Concorde Solutions Ltd