Quercus Corporate Finance is delighted to announce the sale of The Icon Consultancy Limited ('ICON') to Sweet Squared Limited.

The Quercus team, led by Andrew Clegg, advised the shareholders of ICON on the sale of the company to Sweet Squared.  Sweet Squared supplies beauty products to more than 24,000 professionals in the UK and Ireland from its offices in Leeds, Edinburgh, Glasgow and Dublin.

Financial details have not been disclosed.

ICON is a multi-channel brand management and distribution company covering the UK and Ireland.  It specializes in premium hair and beauty products and offers a bespoke service, in consultation with its brand partners, to deliver long term distribution strategies through professional salons and high street retail.

Andrew Clegg, Quercus Partner said:

“We are delighted to have advised ICON's shareholders on what is a very complementary combination of two leading businesses in the sector.  This was a complex deal and I am very pleased that our experience helped deliver a successful outcome."

Paul Taylor, ICON founder added:

"I am very grateful for Quercus' support through the sale process. Their attention to detail and pragmatism helped deal with issues that arose along the way and ultimately played a big part in driving the deal over the line.”

The Quercus team, led by Amanda Hall and Nick Standen, advised the Board of discoverIE on the acquisition of Santon, for an initial consideration of €27m with a further €19.5m dependent on the future performance of the business.

Santon, with its headquarters in Rotterdam and sales offices in the UK and Germany, designs and manufactures highly differentiated, patented direct current switches for use in solar, industrial and transportation markets.

Quercus originated the deal for discoverIE through its strong relationships with The Terra Alliance, a highly effective international M&A network where Quercus is the exclusive UK member firm.

Amanda Hall said:

“This transaction demonstrates the strength of The Terra Alliance.  At one of our six monthly origination meetings we profiled discoverIE as a serial acquirer and Dutch attendee, Iris Corporate Finance, identified Santon as a business which matched discoverIE’s niche acquisition criteria. Having worked with discoverIE for nearly a decade now, it was very clear to us that Santon would fit well with discoverIE, both corporately and culturally. We are delighted to have advised discoverIE on this very important transaction.”

Nick Jefferies, discoverIE CEO added:

"The Quercus team did a first class job. Amanda and Nick once again provided straightforward, objective and clear advice and their commercially focused, hands on approach made a real difference in getting the transaction over the line. We are delighted to welcome Santon to the group.”