As part of the deal, ThirdSpace’s CEO, Neil Coughlan, will join the TiG board as chief strategy Officer and sales director, Nick Lamidey, will join the board as chief sales officer to drive the company’s ambitions to become the UK’s leading Advanced Digital MSP.
ThirdSpace is the UK’s leading professional services provider of Microsoft identity and cyber security solutions. The company, which has offices in Oxford and South Wales, designs, implements and supports state-of-the-art identity, access and security solutions. As an eight-time Microsoft Partner of the Year winner, Thirdspace has helped organisations meet complex security and compliance obligations, while improving collaboration between staff, partners and customers.
The combined group now boasts over 210 employees providing advanced Azure transformational solutions, data analytics, 24/7 managed services, as well as the latest Sentinel and SOC solutions to identify and respond to critical security threats.
The Quantuma team, led by Mark Lucas, Fardeen Nariman and Richard Hill, supported ThirdSpace’s shareholders in developing its business plan, securing investment from TiG, and structuring and delivering the deal for all parties.
Neil Coughlan, CEO ThirdSpace said “I have worked with Mark Lucas, Fardeen Nariman and the Quantuma team through a successful MBO and now the transaction with TiG. Every time, they have delivered and made the process as seamless as it can be – they are multi-talented financial professionals and guides.”
Fardeen Nariman, director at Quantuma, commented: “We are delighted to have helped Neil and Nick with this deal to secure some realisation of value as well as find a new home for the business in TiG, who we believe is the right strategic partner for the long-term. Demand for access management and security services has increased tremendously throughout the pandemic, and there is a clear structural shift in the working relationship between employers and employees. We wish Neil, Nick and the wider team all the very best for the future.”
This deal follows a significantly active period for the Quantuma corporate finance team, completing eight transactions in the last fortnight, at a combined value of over £130m.
Notes to Editors Quantuma is a leading business advisory firm which works with businesses at the key milestones, delivering bespoke solutions to help clients take advantage of opportunities and overcome a range of operational and financial challenges, enabling them to achieve their business objectives and ambitions. The business has 21 offices, including 17 in the UK, two international offices in Cyprus (Nicosia and Paphos), one in Mauritius and one in The Cayman Islands.