The deal

We’re pleased to have acted as lead Corporate Finance adviser to DevOps Group on its sale to Sourced (part of Amdocs), a leading global technology consultancy.

DevOps Group, founded in 2013 by Chief Executive James Smith and Chief Technology Officer Steve Thair, focused on advising enterprise customers on adopting modern software development models and shifting to cloud-based environments. It acts as both an AWS Advanced Consulting Partner and Microsoft Azure Gold Partner. In 2018, the business received investment from BGF to fuel the acceleration of its consultancy services and build on its strong sales momentum.

Our Corporate Finance team led by directors Tom Coombes and Thomas Edwards managed negotiations on behalf of the vendors during the process and led the commercial negotiations in all aspects of the deal.

Tom Coombes, Director at FRP Corporate Finance, said: “James and Steve, with the support of BGF, have built an exceptional business in the national cloud consultancy market as well as continuing to demonstrate this capability in South Wales. This transaction has culminated the many years of dedication that they have given to the business and region, and we were privileged to be involved with them on this journey as part of their advisor team.

“We are really looking forward to seeing how the business will continue to develop in the next part of its growth journey and wish James, Steve and the rest of the DevOps Group team all the very best as part of the Sourced team.”

James Smith, Chief Executive at DevOps Group, said: “The team were excellent. They took time to understand what support and guidance we needed and provided invaluable advice throughout the process. The team were professional and easy to work with, always available when needed, and the clear and frequent communication throughout delivered an extremely successful outcome for DevOps Group.”

The shareholders were advised by Capital Law (legal advisor), Parisi Tax (tax advisor) and MSF (legal advisor).