7Side bought by Australian Company

Cardiff based specialist company information provider 7Side has been acquired by an Australian company.

GlobalX Information, which had been looking to gain a foothold in the European marketplace, has acquired the business for an undisclosed sum – although it is understood to be a significant multiple of the firm's EBITDA.

Cardiff-based Gambit Corporate Finance acted as lead adviser for 7Side on the deal.

7Side was formed in 1980 and has grown to become one of the UK's leading providers for company information, company formations and property searches.

Its customers include leading UK and global law firms, professional services organisations, corporate and governmental organisations.

GlobalX is one of Australia's leading providers of information products, services and software solutions.

The acquisition of 7Side provides it with a platform for growth in the UK. 7Side's management will remain with the business post acquisition.

Gambit's Frank Holmes and Simon Williams acted on the deal. 7Side's executive director Sam Lloyd – who was one of three owners of the business pre-sale, said: "Gambit's commitment, commercial judgement and ability to resolve issues throughout the process allowed the shareholders to achieve a very successful outcome."

Partner with Gambit Frank Holmes said: "The transaction illustrates Gambit's experience in the business services sector, and strength in advising on cross-border transactions."

Gambit director Mr Williams said: "This transaction highlighted that even in a period of economic turbulence, a significant transaction multiple is achievable when a strategic buyer is identified."

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