Penningtons Manches’ corporate team has advised the shareholders of Porge Limited, on its sale to Oxygen Finance Group Limited, a subsidiary of AIM listed TruFin plc. Corporate partner Will Axtell led the team, principally assisted by associate Dominique Sabatini.
Porge provides accurate, evidence-based public sector market insight that is tethered on authentic public sector data. Porge has developed sophisticated software platforms that enable it to deliver its insight in fast, flexible and user friendly formats.
Commenting on the acquisition, Ben Jackson, Chief Executive of Oxygen Finance Group, said: "We have long been an admirer of the Porge business and the additional product offerings that we can provide to our clients is meaningful. We are delighted to have had the opportunity to make this strategic acquisition."
Joint owners Alice and Steve Watson commented: “We’re very excited to see Porge join Oxygen Finance Group Ltd. Porge and Oxygen offer complimentary, technology-rich, services to the Public Sector Market. The fit is obvious, and the future is very exciting. Will Axtell from Penningtons Manches provided outstanding support to us throughout the sale process. He quickly grasped issues that were specific to our situation, and was a wise and patient advisor throughout. Will and his colleagues are exactly the sort of people you want on your home team!”
The Watsons were also advised by corporate finance specialists Rockworth Management Partners.