Fox Williams is delighted to advise that it acted for the shareholders of Citation Holdings Limited (“Citation”) on the sale of the entire issued share capital of Citation to private equity firm ECI Partners LLP which completed on 22 December 2012. The exiting shareholders realized over £40m of value.
Citation is the parent company of Citation Limited (formerly Citation plc), a leading UK employment law and health and safety consultancy which provides its SME clients with professional advice and compliance packages.
Founded in 1995, Citation has more than 220 staff and 7,500 clients including veterinary clinics, dentists, doctors, children’s nurseries, independent schools, care homes and funeral directors, as well as trade associations, professional bodies, retailers, manufacturers and construction firms.
Paul Osborne, Head of Corporate at Fox Williams, said “It has been hugely gratifying to see Citation flourish and prosper over the past decade and become a leading player in this sector. Completing the transaction just before Christmas required a huge effort and commitment from all the parties involved. It was a great way to end the year for all concerned.”
Lindsay Hill (former CEO and Citation shareholder) said “The Fox Williams team gave the Citation shareholders tremendous support in concluding this transaction. Citation has developed its reputation as the quality provider of employment law and health & safety solutions to SMEs across the UK. I expect to see continued growth as demand for its services increases”
Paul Osborne (Partner) led the Fox Williams team, assisted on corporate matters by Howard Taylor (Senior Associate), Mary Elliott, James Daughtrey and Andrew McGlashan (Associates) and on tax matters by Emma Bailey (Partner) and Jaspal Pachu (Associate). SJ Berwin LLP acted for ECI Partners LLP.