Saturday, September 26, 2020

Gateley swoop for human capital consultancy business in £3.4m deal

Gateley, the legal and professional services group, has acquired T-three Group for £3.4m.

T-three complements Kiddy & Partners, which Gateley acquired in July 2018, and together these businesses create one of the largest specialist Human Capital consultancy businesses in the UK.

T-three offers services and products to businesses that enable them to develop their senior people and effect cultural change within the business itself. Its client base includes multinational companies, large public sector organisations and SMEs across the UK and worldwide. T-three is based in Cambourne, Cambridge and employs 35 staff.

T-three is an established, profitable and cash generative business and it will continue to trade under its existing name from its offices in Cambourne. In the year ended 30 September 2019, T-three generated pro-forma revenues from continuing operations of £4.2m and EBITDA of £0.7m. The Board expects the acquisition to be immediately earnings enhancing.

Gateley CEO Michael Ward said: “We are delighted to welcome the T-three team to our growing, successful group. We see huge potential from the Acquisition in further expanding our Human Capital consultancy services, as T-three and Kiddy play to each other’s strengths and fit well alongside our legal teams.

“T-three is another good example of the execution of our stated plan of being able to diversify our business and offer clients complementary business services that support the delivery of our legal services. It will sit within our Employment and Pensions group.

“Kiddy has made excellent progress as part of Gateley and demonstrated growth of almost 37% ahead of our original expectations, generating £3m of fees since acquisition. The opportunity to leverage the strengths of both T-three and Kiddy in the Human Capital space is a really exciting one for us all, particularly given the skills and experience within their teams and the calibre of clients both businesses have in their portfolios.”

Jill Jenkinson, founder and CEO of T-three said: “This is a natural next step for T-three and we’re joining a group that we feel is the right cultural fit for us, that shares the vision for how we want the business to grow and places a relentless focus on the client; with clients being front and centre of how we all do business.

“In addition, we can see masses of potential for working with Kiddy. We are all experienced in helping individuals, teams and organisations make behavioural changes that will transform what they do and the cultures they work within. Alongside that, being part of a legal and professional services group that is focused on building one of the biggest and best Human Capital consultancies in the UK is something we are all excited about.”

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