RE5ULT Limited - trading as Texperts - was the UK’s premier SMS text-answering or “mobile find” service, with a highly automated software platform augmented by a team of expert fast-response researchers providing answers to questions submitted by customers using SMS. Industry awards include the Real Busines/CBI Growing Business Award for “Innovative Company of the Year” 2007 and the “Best Use of Technology” in the 2007 National Business Awards.

The company had received an approach from kgb Inc., owners of the 118 118 service, who were attracted by Texperts technology platform, which would strengthen their UK mobile text services and allow them to launch a similar service in the USA, their home market. The board and management of Texperts were concerned to ensure that a sale to kgb was was executed smoothly.
FirstCapital was known to several of the Directors and had met with company executives on a number of occasions prior to being appointed. The principal challenge was to position the company and its technology platform and close the deal in an extremely challenging market environment, all within a very tight timescale.

FirstCapital advised on positioning, providing negotiation support with the prospective buyer of the business. Our knowledge of and expertise in the sector meant we could help our client make the strongest case possible for its business and understand its value to the buyer. We then coordinated the due diligence process, documentation and closing.

The process was a conventional M&A process, carried out under significant time pressure. FirstCapital acted as exclusive corporate finance adviser to Texperts, providing advice and assistance in relation to all corporate finance related matters. We also coordinated the due diligence process, and managed the capitalisation table and closing funds flows determination.

www.text118118.com

Testimonials

"FirstCapital were very responsive to our requirements and acted for us throughout the process with diligence and professionalism. They consistently provided us with high quality and carefully reasoned advice, helping us through a complex process. They were a key component in the successful completion of the deal."
Sarah McVittie, Founder and CEO of Texperts