Sale of TechHuddle

The Bristol office of Smith & Williamson has advised TechHuddle, an IT software development services business, on its sale to Horizon Capital.

TechHuddle helps companies of all sizes with their offshore IT and IT outsourcing challenges and is one of the fastest growing IT companies in Bulgaria. It provides software development services with a focus on IP development in the UK market.

Horizon Capital invests in high-growth technology and business services companies. Horizon acquired TechHuddle as part of a £30 million buy-and-build investment into technology services.

TechHuddle founder and CEO Richard Yeo said: “Smith & Williamson led the transaction from start to finish, including the identification of Horizon as the preferred counterparty. Their tenacity and determination were crucial to delivering this outcome and I’m delighted with everything the team did.”

The transaction was led by Smith & Williamson partner Iain Lownes, supported by Mark Lord, Paul Stagg and Tristan Bray. Iain said: “This is the latest in a series of technology transactions we have completed, reinforcing high levels of investor demand for quality businesses operating in growth markets. With no indication of a softening in investor appetite, the funding market for innovative and disruptive technology businesses is set to remain buoyant for the foreseeable future.”

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.