Menzies and PDT execute cross-border merger

Advisory teams from both Menzies LLP and PDT Solicitors have assisted in executing a strategic, cross-border merger between the UK-based management consultancy, Retail Business Research (RBR), and Boston-based advisory firm Aite-Novarica Group (ANG).

Kevin Paget, corporate finance director, and the rest of Menzies’ team advised the shareholders of RBR on the merger.

Working with Noel Ruddy, head of corporate at PDT Solicitors, and his corporate transactions team, the firms were reportedly able to optimise the deal on behalf of the shareholders.

The cross-border merger unites RBR, a provider of research and data on banking automation, cards, payments, and retail technology, with ANG, an advisory firm providing guidance on technology, regulations, markets, and operations to banks, payment providers, insurers, and securities firms.

The united firm will be headquartered in both Boston in the US and London.

Dominic Hirsch, managing director of RBR, said: “Both advisory firms demonstrated a strong understanding of the marketplace and the proposition of the combined business. The cross-border nature of the deal meant due diligence had to be robust and the deal itself was well put together and well evidenced.”

Paget added: “This transaction has been immensely satisfying for the advisers as much as for our client. It is rare that you have the opportunity to facilitate such an excellent strategic match in bringing together two companies that share cultural similarities and benefit from strong, complementary skill sets.”

Ruddy said: “The shareholders and management of RBR have created a strong brand with some fantastic clients. With the additional scale that ANG will bring, RBR will be able to expand its offering across a number of new channels.”