Corporate lawyers from South West-based Thrings have advised the shareholders of payments processing business Adelante on the company’s sale to global software firm ClearCourse for an undisclosed sum.
Adelante, which provides a diverse range of credit and debit card payment solutions through its ConnectPay gateway, has entered the latest phase of its growth strategy by joining ClearCourse, a group of innovative technology companies whose integrated software solutions are used by businesses around the world.
Founded in 1998, Adelante’s technology enables clients to process payments online, over-the-phone or via a smartphone app, and through its bespoke recurring card payment hardware system.
Its clients comprise a number of well-known high-street retailers, local authorities and membership organisations, including lingerie retailers Ann Summers, publishers Scholastic and Surrey Heath Borough Council.
ClearCourse, which is headquartered in London and backed by Aquiline Capital Partners, has been servicing clients in the government and not-for-profit, events and booking, lifestyle, sports and leisure, and business services sectors since its inception in 2018.
Adelante’s Darrell Bluck, Chris Graham and Clive Jones received legal, commercial and strategic advice from lawyers at Thrings, with the three principal shareholders working closely with corporate partners John Davies and Simon Hore, and solicitor Conor Melvin.
Thrings’ work included running the legal due diligence exercise, reviewing and negotiating the share purchase agreement, and carrying out the disclosure exercise. ClearCourse received legal advice from international law firm Squire Patton Boggs.
Darrell Bluck said, “I’m incredibly proud of what the Adelante team has achieved over the past 22 years. We were ready to take the business to the next level and in ClearCourse we see the ideal partner to drive further growth at a rate that matches our ambitions.”
John Davies, who heads up Thrings’ Corporate team, added, “It was tremendous fun working on this transaction with Darrell and his team. Despite the challenges presented by Covid, there was a clear determination, as well as great chemistry, between all parties which ensured the deal continued to move forward.”
Pictured above: (Left to Right) Thrings corporate partners John Davies and Simon Hore, who completed the transaction. Please note the photo was taken prior to the coronavirus outbreak.