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BDO advises on sale of Incremental to Telefónica Tech

Now with a headcount of 350, the business said it will continue with its ‘ambitious’ scale-up plans with the backing of Telefónica Tech.

BDO’s M&A team has advised the shareholders of Glasgow-headquartered Incremental on its sale to Telefónica Tech.

The transaction will see Telefónica Tech strengthen its capabilities and presence in the UK and Ireland, where it operates under the Telefónica Tech UK&I brand.

BDO said the deal value was announced at up to £175m which includes “potential” contingent payments linked to its future performance.

BDO has supported Incremental since the business was founded five years ago and advised on its initial fundraise, with backing received from Maven Capital Partners and Scottish Investment Bank, and a series of acquisitions including the strategic bolt-on of data specialist, Adatis, in October 2021.

Now with a headcount of 350, the business said it will continue with its “ambitious” scale-up plans with the backing of Telefónica Tech.

Neil Logan, chief executive officer at Incremental Group, said: “I am immensely proud of what Incremental has achieved since our inception a little over five years ago. As we looked ahead to the next stage of our development, it was important that we secured Incremental the right support for the long term.

“Becoming part of Telefónica Tech propels us into the next phase of our journey and enables us to further scale the business, creating exciting opportunities for our people and our customers.”

He added: “For business owners with ambitions like ours, it is so important to be able to rely on insight from advisers who understand the dynamics of the M&A market, the nuances of our sector and how to get a deal over the line. It’s also vital to build a positive working relationship, which will allow you to succeed together. BDO has done just that over the past five years.”

Rory McPherson, M&A partner at BDO LLP, added: “This transaction is a culmination of the hard work and commitment of the Incremental team and its market-leading offer.”

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