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CTS

IT solutions shaped for law

Partnership origins

In 2017, CTS found itself at a crucial juncture characterised by rapid growth and an unwavering ambition to ascend to the top echelon of the market. The management team recognised the need to make a pivotal decision regarding the company’s next phase of growth, one that would necessitate significant business scaling. While one option was to continue along the existing trajectory, the team believed this would be a slower path, lacking the requisite in-house expertise at that juncture.

A trade sale was not the chosen route, but the prospect of private equity offered an appealing solution to fulfil CTS’ aspiration of becoming a market leader. To achieve this, management understood that acquisitions would be essential. However, gaining the necessary credibility and funding for such M&A goals would have proven difficult without the support and backing of a partner like Tenzing.

Why CTS chose Tenzing

Following a competitive, multi-bid process, Tenzing emerged as the standout choice due to its growth-oriented mindset and personable approach. Tenzing was seen as the ideal partner to accompany CTS on its expansion journey, with a strong emphasis on international growth.

Motivation for investment

CTS’ ambitious business objectives, coupled with a desire to build upon the Founder’s knowledge and leadership approach, made partnering with Tenzing an attractive proposition. The Founder acknowledged a knowledge gap that he sought to address, particularly in the realms of scaling and acquisition. Private equity provided the opportunity for personal growth in these areas.

The transition from being an owner/manager to selling a majority stake in the business and venturing into a new realm with different parameters was acknowledged as a psychologically challenging process. The Founder emphasised the transformation in his perspective on the business’s future and his role in shaping it, highlighting the significant shift that anyone in his position would face. Nevertheless, he expressed that the learning experience had been invaluable, providing him with a solid foundation for the future.

Tenzing was the most aligned to what we wanted to do. In terms of scaling, they had very much a growth mindset. They wanted to buy growth companies, and that aligned with where we wanted to go in our marketplace. They also made a great effort to be the most personable, and to get under the skin of our business. That’s what separated them from everyone else.”

Nigel Wright
Founder of CTS

How have we helped CTS since investing?

Under Tenzing’s guidance, CTS not only filled crucial leadership positions but also achieved one of its key business goals – growth through acquisition. In November 2020, CTS announced the acquisition of two legal specialist managed service providers, Sprout IT and City Business Solutions (CBS), aligning with its vision of becoming the leading cloud and managed IT provider for the UK and Irish legal sectors. Subsequently, CTS acquired Tiger Eye in September 2022, further solidifying its vision to become the ‘Digital Transformation Partner for Law.’ CTS credited Tenzing’s Acquisitions Director, Matt Nicholson, as “instrumental” in successfully completing both of these acquisitions.

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