Quercus International is the exclusive UK member firm of the Terra Alliance International M&A network.   The Alliance has announced a record-breaking 2024 and continued global expansion. Over the year, its member firms closed 161 transactions with a total deal value of US$44.7 billion. This outstanding performance, achieved despite global economic headwinds, underscores the resilience of member firms and their ability to deliver successful transactions for their clients.

Over the five years to December 2024, member firms closed 623 transactions, representing a total deal value of US$196.6 billion.

In 2024, Terra Alliance further expanded its global reach by welcoming BR Advisory Partners Participações S.A. in Brazil and Centrum Capital Limited in India. With these additions, the Alliance now comprises 15 firms, offering comprehensive investment banking coverage worldwide.

Andrew Clegg, Quercus Partner and member of the Terra Alliance Steering Committee, commented:

"These record-breaking results are a testament to the strength of our global network and the deep expertise of our member firms. Despite challenging market conditions, we continue to deliver outstanding outcomes for our clients. The addition of BR Advisory Partners and Centrum Capital further enhances our ability to provide world-class advisory services across key global markets."

A Quercus International team, led by Neil Giles and Nick Standen, has advised the shareholders of Serbus Limited (“Serbus” or the “Company”) on the sale of the business to Aliter Capital LLP (“Aliter”), a UK private equity firm. Serbus will join the Aliter-backed group alongside ITM Communications Limited (“ITM”) and Bates IT Limited (“Bates IT”).

Established in 2010 by two UK Special Forces veterans, Sebastian Wiles and Russell Ticehurst, Serbus specialises in the provision of advanced secure mobile communications offering top level security, threat protection and compliance to ensure day-to-day operations remain productive and uninterrupted, wherever its customers’ employees are working in the world. This includes high-profile government and military environments, as well as within multinational corporations, where protection of employees and intellectual property is key.

Serbus currently supports customers across the UK’s Critical National Infrastructure (“CNI”), working closely with the Ministry of Defence and a range of UK Government departments.

Serbus represents the third acquisition for the Aliter-backed group  which currently includes ITM, a UK provider of critical network and ICT infrastructure services, and Bates IT, the specialist healthcare ICT provider. The combined group portfolio delivers a comprehensive range of managed critical network and ICT infrastructure capabilities, including network management, on-site and off-site technical services, IoT and digital infrastructure services.

Serbus’s founders and directors, Sebastian and Russell, have built a strong, diverse, security vetted team. Both are remaining with the business and will now work closely with the enlarged group to drive further growth organically, whilst continuing to pursue a buy-and-build strategy.

Sebastian Wiles, Director of Serbus, said: “We remain dedicated to delivering the highest levels of service to our customers and we will continue to deliver the highest levels of secure mobile communications, offering top level security, threat protection and compliance. Furthermore, as part of the wider group, we can now provide the added benefit of complementary critical network and ICT infrastructure managed services, capabilities and resources. We very much look forward to a bright future as we grow.”

Simon Fieldhouse, Group CEO of the ITM Group, added: "This deal broadens the group’s existing credentials in supporting CNI and the defence sector and enables us to advance the launch of a stand-alone dedicated defence practice. Extending our services to include secure NCSC approved communications solutions provides a tremendous opportunity to extend our security pedigree and broaden our managed services footprint across existing customers, whilst expanding into adjacent CNI verticals, such as emergency services, utilities, energy and datacentres."

Russell Ticehurst, Director of Serbus, said: “I would like to extend my personal thanks to Quercus International for their unwavering support throughout this M&A process. A special mention should go to Neil Giles, without whom this deal would not have happened. You have shown levels of professionalism, determination, and diligence reminiscent of my Special Forces days. An incredible job, Neil. Thank you. If any prospective seller wishes to discuss the journey, and what you and Quercus International offer, I will happily explain why they should choose you every time. Incredible support from start to finish.”

Neil Giles, Quercus International, commented: “This sale is the culmination of a 15-year journey for Sebastian and Russell, having developed Serbus from a small consultancy business to one of the leading providers of secure mobile communication solutions to the UK Government, the UK military and increasingly, the private sector. We have thoroughly enjoyed working with Russell and Sebastian over the course of this transaction and we are thrilled to have delivered a successful outcome for them both. We look forward to seeing the company flourish under Aliter’s ownership.”

A Quercus International team, led by Dane Houlahan, has advised the shareholders of Metalwash Limited (“Metalwash” or the “Company”) on the sale of the business to Safetykleen UK Limited (“Safetykleen Group”). Safetykleen Group had originally acquired a majority stake in the Company in December 2023, and it has now acquired the remaining shares in the business not already owned.

Metalwash is a company specialising in the service rental of parts cleaning equipment for the automotive, engineering, rail, aviation and other sectors. Headquartered in Stroud, Gloucestershire, it operates with nationwide sales and service centres with regional hubs in Dundee, Penrith, Harrogate, Birmingham and Dunstable.

Safetykleen Group is a provider of parts cleaning, waste management and environmental advisory services to customers in 13 countries, including the UK. It is wholly-owned by funds advised and managed by Apax Partners LLP (“Apax Partners”).

The acquisition by Safetykleen Group of Metalwash will drive significant synergies between the two businesses, combining two of the sector’s best-in-class solution providers. The deal will look to harness the skill-set and dedication of both sets of employees to service customers and grow the enlarged group.

Dane Houlahan, Partner, Quercus International, commented: “We are delighted to have been able to support the Metalwash shareholders and management over the past four years, both through the original acquisition of the company via a Fundless Sponsor transaction and again through the recent 100% sale of the Company. Safetykleen will be a great home for the business, and we wish both fantastic management teams all the very best for the future.”

This transaction illustrates Quercus International’s strength in the wider industrial services segment of the market, being the second sector-related transaction completed within the past two months.

Quercus International, led by Michael Mortimor, has supported Hauck Aufhäuser Lampe, a fellow member of the Terra Alliance, on the sale of Amazilia Aerospace GMBH (“Amazilia” or the “Company”) to Textron Inc (“Textron”). Hauck Aufhäuser Lampe served as the exclusive financial adviser to Amazilia’s shareholders, whilst Quercus International provided sector input throughout the transaction, and closely supported marketing to international strategic buyers.

Amazilia is a Munich-based developer of digital flight control, flight guidance and vehicle management systems for civil manned and unmanned aircrafts. The Company has a comprehensive product and service portfolio, covering fully integrated software and hardware, system engineering, testing and after sale support, data management and training.

The acquisition strengthens Textron Aviation’s international capabilities, supporting its focus on positively impacting the next generation of flights. The former Amazilia Aerospace team will work closely with Textron Aviation’s Pipistrel team on aircrafts such as the Surveyor and Nuuva.

Mike Mortimor, Partner, Quercus International, commented: “We are delighted to have been able to successfully support our fellow Terra Alliance member, Hauck Aufhäuser Lampe, on this disposal of Amazilia to Textron, a leading global corporation headquartered in the US. This transaction once again demonstrates the value of the Terra Alliance in delivering outstanding results for clients.   Following on from the sale of Blue Bear Systems to Saab, it further demonstrates our deep sector insight and relationships across the global aerospace sector.

A Quercus International team, led by Michael Mortimor and Andrew Clegg, has advised the shareholders of Live Business Limited (“Live Business” or the “Company”) on an investment in the business by Literacy Capital plc (“Literacy Capital”), giving it a significant minority stake.

Since its establishment by Mark Dixon and Dan Lock, Live Business has evolved to become a leading international entertainment supplier to the travel, tourism and leisure industry. It is a prominent provider of turnkey entertainment solutions for global travel operators, specifically in holiday resorts or on cruise ships.

The business is recognised for its reputation for creating award-winning bespoke content, bringing together creative, production and digital capabilities. The capabilities of the business include everything from concept design, digital media content, to West-End style production shows and live entertainment activities.

Literacy Capital’s investment will support the plans of its founders to ambitiously grow the business under their leadership. The founders will continue in their current roles, ensuring that Live Business continues to focus on the quality of their service delivery and deliver high-quality entertainment solutions to its clients.

Mile Mortimor, Partner, commented: “We are delighted to have been able to support Mark and Dan on this transformational investment partnership that will facilitate the delivery of the Company’s ambitious growth plans. Under Mark and Dan’s leadership, Live Business has evolved to become a ‘ best in class supplier‘ differentiated by its utilisation of technology and content innovation, as well as its consistent high-service delivery and continuous effort to further improve its service levels. We are delighted to see Literacy Capital as a partner to Mark and Dan, as they drive the business forward.”

Mark Dixon and Dan Lock, the founders of Live Business, commented: "Working with Mike and the Quercus team has been an amazing and exciting journey from beginning to end. Their attention to detail, knowledge, experience, and skill in handling all matters relating to corporate finance, has made the process an enjoyable and informative experience. Mike’s walked us through every stage of this adventure ensuring complete transparency, reliability, and integrity along the way. He’s navigated our path through tricky situations with class and respect, whilst maintaining a firm grip on achieving our personal goals as business owners. We are delighted to now call Mike a friend and look forward to our next adventure together.” 

Quercus International is delighted to announce that it has advised the Sureserve Group (“Sureserve”) on the acquisition of Swale Heating Holdings Ltd and its subsidiary, Swale Heating Limited (together “Swale Heating”), a business delivering gas and renewable heating solutions to both public and private sector customers. This is the second time Quercus International has worked successfully with Sureserve, having previously sold the group’s lifts maintenance business in October 2023.

Swale Heating was established in 1972 to provide heating services to residential and social housing clients. Today, the business provides installation, repair and maintenance services to 140,000+ households located across South East of England, London and East Anglia, and generates turnover of c.£43m. It specialises in standard boiler installations, technical commercial projects and a range of renewable heating solutions, with comprehensive customer service delivered 24 hours a day, 365 days a year.

The acquisition will expand Sureserve’s footprint across the UK and helps to support its mission to be the trusted partner of choice to the social housing and related public sector in delivering essential and affordable heating, energy saving and compliance solutions.

Graham Levinsohn, Group CEO, Sureserve, said:

“We are delighted to welcome Swale Heating and its 375 employees and I would like to thank Quercus for advising on and executing this transaction. We look forward to working with the management and employees of Swale Heating to furthering our shared success.”

Amanda Hall, Partner, who led the Quercus team, commented:

“We are delighted to have been able to support Graham and his team at Sureserve on this important acquisition. We look forward to seeing Swale Heating continue to flourish and develop under Sureserve’s ownership.”