Scheme document published for the £50.4 million recommended cash offer by Wavenet subsidiary Thetsis Bidco for AdEPT Technology
February 2023
Thetsis Bidco is a member of the Wavenet Group and a subsidiary of MPRC Europe Limited, part of Macquarie Group.
Formed in 2000 and acquired by the Macquarie Group in 2021 through its European private equity division, MPRC Europe Ltd, Wavenet is a provider of telecoms and technology services to more than 15,000 business and enterprise customers across the UK.
Wavenet has offices in Solihull, Chester, Norwich, Cardiff, Nottingham, London, Twickenham, Cambridge, Worcestershire and St Albans and employs about 550 people, including more than 250 trained support staff and engineers.
AdEPT provides specialised managed IT services and unified communications solutions to thousands of organisations across the UK through an ecosystem of industry-leading partners and with a team of over 300 dedicated and knowledgeable professionals.
AdEPT unifies an organisation’s technology through tailored, proven solutions that work for the client and its team, hence their mission of ‘Uniting technology, inspiring people’. They are proud to count offices, hospitals, trusts, government departments and schools as customers and have expertise in IT services, voice, connectivity, Cloud, networks, cybersecurity and professional services.
On 8 February 2023, the boards of AdEPT and Bidco announced that they had reached agreement on the terms of a recommended all cash acquisition pursuant to which Bidco will acquire the entire issued and to be issued share capital of AdEPT.
Publication of the Scheme Document
The Perivan Shareholder communications team was delighted to work with Houlihan Lokey and Singer Capital Markets who acted as Financial Advisers and Cripps who acted as Legal Advisers to AdEPT on the production of the 82-page Scheme and associated ancillary documents which were successfully published and posted to qualifying shareholders on 22nd February 2023.
For further information, click here.
Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies, private companies, and open and closed-ended funds.
