The Sedulo Group has reported an 18% rise in consolidated revenues to £14.9m for the year ending October 2023, with EBITDA reaching £2.192m, a 65% increase. Key growth areas include R&D, funding, and corporate finance divisions. Following a 2019 strategy, Sedulo doubled its size, employing 192, and now aims for further growth, planning to double in size again by 2026. The group eyes additional offices in Scotland and the South West, explores acquisitions, and targets a £30 million revenue by 2026.
PwC Scotland’s Lead Advisory team has achieved three notable deals to start 2024. Firstly, advising Intelligent Land Investments on the sale of Red John Pumped Storage Hydro Scheme to Statkraft. Second, facilitating the sale of Silixa, a leader in distributed fibre optic sensing solutions, to Luna. Lastly, advising private equity investor LDC on its investment in Kick ICT, Scotland’s largest independent IT managed service provider. PwC hails these successes amid challenges and enters 2024 with positive momentum, emphasising its involvement in landmark deals shaping client markets.
Hazlewoods’ corporate finance team, along with BPE Solicitors, has guided the sale of XLCR Vehicle Management, a UK-based car and van leasing company, to Global Vans. XLCR, focusing on SMEs and delivering 2,500 units annually, retains its founders and management team post-sale. Global Vans, backed by H2 Equity Partners, sees this acquisition as aiding its growth plans. The deal reflects XLCR’s specialisation in car leasing and contract hire, positioning it for continued success under new ownership.
Azets has assisted Forsberg Services Ltd, a precision technology provider for defence and civilian use, in its acquisition by Teleplan Globe AS, specialising in mission-critical systems software. Forsberg, operating for over 35 years, brings expertise in PNT (positioning, navigation, and timing) to Teleplan Globe. The deal involves Teleplan Globe acquiring Forsberg Holdings Limited, the parent company of Forsberg Services, for an undisclosed sum. The acquisition aims to enhance both companies’ capabilities, offering innovative solutions and broadening service offerings for existing and new customers.
