Devonshires’ corporate team has advised Aquila Services Group PLC (Aquila) on its investment in 3C Consultants, one of the largest providers of IT consultancy to the UK’s social housing sector.
Aquila, whose shares are quoted on the main market of the London Stock Exchange, is the parent company of Altair Consultancy & Advisory Services Ltd and Aquila Treasury and Financial Solutions Ltd, and provides high level professional support services to the affordable housing sector.
Its investment in 3C will complement the group’s offer, enabling it to provide digital and ICT strategy support, strategic data management, advice on GDPR compliance, and programme management.
The Devonshires team was led by Corporate Partner James Lyons. He said: “This investment forms part of Aquila’s growth strategy which is aimed at providing its housing sector clients with a one-stop-shop aiming to meet all the high-level professional support which they require.”
Aquila will be investing an initial £154,000 to take a 25% stake in 3C. As part of the investment, Steve Douglas, Co-Chief Executive of Aquila and Altair, will join the board as a non-executive director.
Derek Joseph, Chair of Aquila and Altair said “This is an exciting investment that builds on our offer to clients. The work of 3C will help encourage innovative IT solutions for the housing sector and ensure that our clients’ IT systems and controls are fit for the future.”
Colin Sales, Managing Director of 3C Consultants said: “I am delighted that Aquila have taken a stake in 3C and look forward to us working ever more closely in partnership to add value to both our and Altair’s clients. Both 3C and Aquila are also grateful to Devonshires and James for their advice – always responsive and helpful, they were a pleasure to deal with.”