Gambit Corporate Finance acts as Lead Advisor on the sale of the Communications Compliance Practice business of TDS Global Holdings to Kerv

Trusted Data Solutions (TDS), the foremost expert in legacy data management, has sold its Communications Compliance Practice to Kerv.

The rebranded Kerv Communications Compliance Practice provides mission-critical communications compliance services to major global financial services organisations including 50% of the Tier 1 UK banks with 140,000 channels of compliance recording and more than 3 billion captured calls under management globally.

The business employs 40 staff based in Europe, Asia and North America with headquarters in London and a 24-hour global service operations centre in Cardiff. With annual turnover exceeding £10 million, the practice is continuing to win new customers at pace, achieving a growth rate of 20% in the last financial year and forecasting to exceed that growth in the current period.

The acquisition will strengthen Kerv’s existing proposition and capabilities around all aspects of compliance and will take the total Kerv business to over £60m turnover and more than 500 staff and create the leading compliance technology practice serving the UK’s Tier 1 banking and financial services sector. The existing leadership of the Communications Compliance Practice, including CEO Brad Gorton, and Head of Strategy Paul Wilson, will join Kerv in senior roles, working closely alongside the management team at Kerv Collaborate, which already has a strong presence in the banking and financial services market. In addition, Kerv plans to retain all staff in the Practice and will continue to invest in the business to build on its growth trajectory.

Gambit Corporate Finance acted as lead advisor to the shareholders of TDS Global Communications Compliance Practice on negotiating, structuring and managing the transaction. The Gambit team was led by Geraint Rowe (Partner), Sam Forman (Director), Nick Gallagher (Executive) and Lloyd Evans (Analyst).

Sam Forman, Director at Gambit commented:

“TDS, Brad and Paul have created a market leading service provision which is integral to Tier 1 banking organisations across the globe. The Communications Compliance Practice will significantly enhance Kerv’s capabilities in FCA regulated compliance services and ensure and assure compliance across all channels, including mobile, Microsoft Teams, Zoom and Symphony together with social media and messaging platforms.”

“This successful outcome is a testament to Gambit’s deep Software & IT Services sector knowledge and experience in delivering M&A advisory services. The transaction also indicates the level of M&A activity in SITS sector at present, with significant levels of appetite from well-funded acquirers such as Kerv for quality assets in the UK mid-market.”

Brad Gorton, Managing Director of the new Kerv Communications Compliance Practice added:

“We’re so excited to be joining the team at Kerv, bringing new capabilities to all our customers, and helping them accelerate their journey to digital channels and the cloud.”

Acuity Law provided legal advice to the shareholders and its team comprised of Rachelle Sellek and Chiara Howfield.

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