InsightsNews - Corporate, Banking and Finance - POSTED: October 20 2020
Brachers oversees management buyout of Clear Treasury
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Brachers has acted for the management team on the buyout of London-based Clear Treasury Group Limited.
Clear Treasury is an international FinTech business, with offices in both London and Dublin. Its mission is to transform the currency and payments landscape through a team of experts who provide clients with their platforms and technologies to grow successful international businesses. Clear Treasury’s technology seamlessly integrates its products and services into clients’ ecosystems, removing the complexity and risk of international payments.
The deal was led by Brachers Partner James Bullock, and supported by Partner Claire Williams. Chartered accountants Barnes Roffe and MICA Accounts provided tax advice for the deal, while Mike Fletcher, who sits on the leadership team at Clear Treasury, provided strategic advice to the management team.
Clear Treasury is FCA regulated, adding it to the growing number of deals Brachers has completed within the financial sector, including the recent deal for JIB Insurance Brokers. It also adds to the increasing level of work that the South East firm is doing with London companies, including a deal with anti-plastic pollution disruptor Polymateria.
James said: “The Clear Treasury deal offered Brachers the opportunity to continue to work with companies with an international focus. The team at Clear Treasury are providing stability to businesses in a dynamic market through tailored solutions and guidance – something that is so important in these uncertain times.
“The deal was both exciting and challenging due to its complex nature and because several of the sellers were based overseas. The complex structure of the deal involved cash, issuing consideration shares in the buy-out vehicle, and restructure of shareholder loans. The buy-out will allow Clear Treasury’s management team to take ownership and grow the business for the future. We wish the team success.”
Jordan Tilley, Clear Treasury CEO, added: “Clear Treasury’s relationships have always focused on long term success and our dedication to excellent customer service. We understand how technology transforms the way that businesses operate and are confident that this new management structure is the best way to support our growth.
“Working with Brachers was a positive experience from beginning to end and we want to thank the team for their hard work.”
The management team consists of Jordan Tilley (CEO), Peter O’Flanagan (CEO) and Paul Reilly (CCO). Compliance Director Peter Jackson has retained his position on the company’s leadership team, while Mike Fletcher continues to provide CFO consultancy services to the leadership team.
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