The Corporate Finance team at Midlands-based Cooper Parry led a cross-border transaction which concluded with the sale of eTech Solutions Limited (eTech) to CoreLogic, Inc (CoreLogic®).
eTech, the UK’s leading provider of mobile surveying and workflow management software to the property services industry for the lending and surveying, and energy markets, has been acquired by CoreLogic (NYSE: CLGX), a global property information, analytics and data-enabled solutions provider.
Founded in 2005 by brothers, Jim and David Driver, and headquartered in Solihull with 140 employees, eTech provides an end-to-end property valuation workflow management platform and mobile valuation solution through which more than 50% of UK property valuations are delivered. eTech also supports UK Energy Suppliers in the delivery of Governmental carbon reduction obligations. Its clients include leading UK Chartered Surveyors, Panel Managers, Lenders and Energy Suppliers.
Cooper Parry Corporate Finance acted as lead advisers to the shareholders of eTech, with legal advice provided by DLA Piper. Cooper Parry also provided tax advice to the shareholders.
Commenting on the acquisition, eTech Founder, Jim Driver says:“We very much look forward to aligning our expertise with the considerable resources of CoreLogic to further develop the services we offer to our partners in the UK and internationally. With new products already in the pipeline, this is an exciting phase for eTech’s continued growth.”
Frank Martell, CoreLogic president and CEO, added: “The acquisition of eTech expands our UK footprint and augments our valuation solutions offerings. The eTech team has established a great track record of building innovative solutions that helped transform the UK valuation and energy assessment industries. We believe that over time, we can potentially leverage benefits from a number of eTech’s innovative solutions to fuel automation and reduce cycle times in our U.S. property valuation operations.”
The Cooper Parry Corporate Finance team was led by Phil Hinson: “We’re delighted for Jim, David and all at eTech. The transaction is another great example of a cross-border deal completed with a strategic trade buyer. We wish the business all the very best with its future growth plans.”
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