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Buzzacott is delighted to have provided advisory services to Gravita

Corporate Finance deal announcement: Buzzacott provided buy-side financial due diligence advisory services to Gravita on its acquisitions of Carter Backer Winter and Davis Grant

Investor: Tenzing

Seller: Carter Backer Winter (CBW)/Davis Grant

Type of deal: Acquisition

Sector: Business services

Date: May 2023

Overview of deal

Buzzacott is delighted to have provided advisory services to Gravita on its recent acquisition of both Carter Backer Winter (CBW) and Davis Grant.

With the addition of CBW and Davis Grant, Gravita has now completed its third and fourth acquisitions with Tenzing's backing, as it continues an exciting growth trajectory.

Who are the firms involved?

Gravita is a rapidly expanding accounting and advisory firm that provides a comprehensive range of services, including audit, tax, and business advice, and is committed to leveraging technology to enhance its offerings. Gravita is backed by Tenzing, a dedicated long-term investor that provides its portfolio companies with capital, expertise, and an extensive network of contacts.

CBW is a highly regarded, award-winning full-service accounting firm based in London's City, built on a foundation of personalized, hands-on service and long-standing relationships.

Davis Grant specializes in delivering accounting services to SMEs with a focus in the technology industry. Established in 1949 and located in Ilford, Essex, Davis Grant bring a broad range of clients and talented staff to further enhance Gravita's growing suite of services.

What we liked about this deal

Buzzacott worked closely with Gravita, Tenzing, and their other advisors throughout both processes, providing guidance on key terms to structure the transaction and minimize buy-side risks, with particular emphasis on the enterprise to equity value. This collaboration resulted in the successful completion of both deals.

To see further transactions in the Business Services sector, please see our transactions page.

Working with Buzzacott was a delightful experience. The team worked relentlessly to meet deadlines and thought outside the box to deliver the insights we needed. They went the extra mile, both in and out of scope. They acted as a trusted advisor, a safe pair of hands, and an absolute pleasure to work with.

Laura Meaden - Acquisition Director (Tenzing)

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