The LAVA team has crafted and delivered a bespoke deal that sees Elemental join US-PE-backed corporate services powerhouse, Cogency, for a future of unfettered, scalable success.
LAVA was appointed by Elemental’s founder and Managing Director, Nick Lindsay, to help them understand their options and to shape the best possible outcome for the company he and the management team worked so hard to build. The deal LAVA crafted far exceeded their initial expectations and delivered an unprecedented result for them and their team.
With the needs of multiple stakeholders to balance, listening is a key first step in the LAVA method. We take the time to understand exactly what matters to all of the people at the heart of the process. This reduces the likelihood that misunderstandings further down the road could derail the deal, and ensures everyone is primed, ready, and pulling in the same direction.
During our anonymous market testing exercise we then gather intelligence and establish likely appetite and prioritised options for leadership to consider. This allows us to work with only the most culturally aligned, hungry and deliverable parties, making the most efficient use of the Elemental board’s valuable time.
As the leading UK specialist provider of corporate secretarial, governance, accounting and tax advisory services, Elemental provided a compelling investment opportunity. Having consistently been named as one of the fastest growing professional services businesses in the UK by the Financial Times, Elemental had an impressive list of suitors, and shareholders were keen to find the right home and direction for the future of the team.
The LAVA approach really enhanced the way we see M&A, even as experienced professionals. They provided us with the broadest possible range of options and delivered a deal that was everything we hoped for and more, giving us the confidence that we’d achieved the best result for the future of Elemental and our people.
Nick Lindsay Managing Director
Through a bespoke process, LAVA established that the best path to securing the future of the firm, and the strong, collaborative culture responsible for its success to date, was a partnership with a PE-backed trade party able to fully empower the team to deliver.
Cogency demonstrated a nuanced appreciation of the strengths of the firm, as well as a dedication to empowering the team to even greater future success. With US Private Equity showing ever more interest in the UK professional services space, LAVA’s ability to navigate this landscape and deliver the perfect cross-border partnership meant the Elemental team could be confident of the optimal result for the firm.
It was a pleasure working with the LAVA team, who expertly guided us through the whole process. I would wholeheartedly recommend them. In Cogency we have found a group that shares our values, and we are especially excited for all the experience and opportunities that they have to offer.
Dhruv Patel Director of Tax and Accountancy and Chief Financial Officer
It’s always great to work in one of my favourite sectors, but when it’s with a company as exciting and unique as Elemental, it’s just fantastic, and I’m delighted to have achieved an exceptional outcome for Nick and the team. This deal demonstrates our ongoing passion and ability to scour the globe to find the right buyer, and, in this market, it’s no surprise that was a US PE-backed platform.
Paul Joyce LAVA Partner
We very much enjoyed working with Nick and Dhruv to hash out all the gritty details of such a fascinating deal, and are really looking forward to seeing Elemental’s success in its new home with Cogency.
The LAVA deal team
