Our work with Market Data Services Ltd

Smith & Williamson advised MDSL on the transaction with Sumeru Equity Partners

Published: Thu, 20 Jul 2017 13:31 GMT

Market Data Services Limited (“MDSL”) is a leader in Technology Expense Management (“TEM”). With operations in the UK, US, Europe and Asia, MDSL partners with enterprises to provide clarity, control, compliance and cost savings across their global technology estates.

MDSL prides itself on its outstanding customer service, advanced software platform and unique global capabilities, providing a unified expense management SaaS platform encompassing categories such as telecoms, cloud services, the Internet of Things and financial market data alongside associated managed and professional services.

Smith & Williamson worked with the directors and shareholders of MDSL to conduct an international search for a strategic partner to support the company’s continuing growth and to strengthen MDSL’s position as a global TEM leader. The directors recognised that their new business growth would soon outpace their organic capabilities and that growth was accelerating more rapidly outside of the UK. Sumeru Equity Partners (“SEP”), which also owns TEM provider Telesoft, shared the directors’ vision for expense management across all technology areas and were keen to support the MDSL strategy.

Brian Livingston, Head of M&A for Smith & Williamson, a member of Oaklins International Inc., led the transaction assisted by Amanda Phillips and Stuart Goodman.

Ben Mendoza, Founder of MDSL – “We are excited to have found a partner in SEP which shares our vision to support MDSL’s continuing growth. Brian and the team at Smith & Williamson handled the intricacies of the process impressively providing hands-on support and advice throughout. Their experience of working with owner-managers on international processes and with technology businesses was invaluable in guiding the process through to completion. The whole team were a pleasure to work with.”

Brian Livingston, Head of M&A for Smith & Williamson – “MDSL is a truly innovative SaaS provider with a growing international footprint. SaaS businesses have different metrics and need investors that understand the model. We were delighted to have been able to deliver a transaction for the shareholders that brought in a US private equity partner that not only had financial firepower but also understood the size of the market opportunity and could work with the Company to achieve its global ambitions.”

For further information please contact:

Stuart Goodman
T: 020 7131 4999
E: stuart.goodman@evelyn.com

By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication.

Notes to editors

Notes to editors
Smith & Williamson is a leading financial and professional services firm providing a comprehensive range of investment management, tax, financial advisory and accountancy services to private clients and their business interests. The firm’s c1,800 people operate from a network of 11 offices: London, Belfast, Birmingham, Bristol, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton. Smith & Williamson is part of The Tilney Smith & Williamson Group.