Mills & Reeve has advised on the public-to-private takeover of AIM-listed GRC International Group plc by an entity backed by investment funds managed by Bloom Equity Partners Management. The transaction, pegged at £8.6 million, was executed via a scheme of arrangement under Part 26 of the Companies Act 2006. Located in Ely, GRC International boasts a strong reputation in the governance, risk management, and compliance domain, catering to a vast clientele of over 7,500 SMEs worldwide. Bloom Equity identified GRC for its formidable cybersecurity portfolio, foreseeing significant growth prospects with their operational backing. With a track record of success in tech-enabled services and software enterprises, Bloom Equity is poised to facilitate GRC’s future scaling and expansion endeavors.
Jonathan Greenwood, a corporate partner at Mills & Reeve, took the lead in the advisory team comprising principal associate Emma Plaxton. Greenwood expressed gratification in aiding GRC’s transformation and conveyed optimism for GRC’s future trajectory under Bloom Equity’s stewardship. Alan Calder, GRC’s CEO, lauded Mills & Reeve for their proficient legal counsel and tactical support, emphasizing their role in closing the deal effectively. Other key advisors included Wyvern Partners and Singers Capital Markets for GRC, while Bloom Equity leaned on advice from Fladgate LLP and Cavendish. The prevalent sentiment among all parties involved is that this acquisition strategically positions GRC for amplified growth and innovation, leveraging Bloom Equity’s resources and industry acumen.
Strategic Implications and Future Trajectory
Mills & Reeve advised on the public-to-private takeover of AIM-listed GRC International Group plc by a Bloom Equity Partners-backed entity. The £8.6 million transaction was executed via a scheme of arrangement under Part 26 of the Companies Act 2006. Based in Ely, GRC International is known for its expertise in governance, risk management, and compliance, serving over 7,500 SMEs globally. Bloom Equity chose GRC for its strong cybersecurity portfolio, envisioning significant growth with their support. With a solid track record in tech-enabled services and software, Bloom Equity aims to help GRC scale and expand.
Jonathan Greenwood, a corporate partner at Mills & Reeve, led the advisory team, which included principal associate Emma Plaxton. Greenwood expressed satisfaction in aiding GRC’s transformation and optimism about its future under Bloom Equity. Alan Calder, GRC’s CEO, praised Mills & Reeve for their adept legal counsel and strategic support, highlighting their role in closing the deal. Wyvern Partners and Singers Capital Markets also advised GRC, while Bloom Equity received counsel from Fladgate LLP and Cavendish. All parties believe this acquisition positions GRC for enhanced growth and innovation, utilizing Bloom Equity’s resources and industry expertise.
