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Travers Smith advises finnCap in connection with PROACTIS’ proposed acquisition of Perfect Commerce


Travers Smith LLP has advised finnCap Limited as nominated adviser and sole bookrunner to PROACTIS Holdings Plc, a global Spend Control and eProcurement solution provider, on PROACTIS’ proposed acquisition of Perfect Commerce, LLC for an aggregate consideration of up to $132.5 million (approximately £102.4 million), together with its oversubscribed conditional placing to raise £70.0 million.

The proposed acquisition constitutes a reverse takeover for the purposes of the AIM Rules and is consistent with PROACTIS’ growth strategy, which is designed to deliver a business that is capable of addressing a growing global market demand for spend management solutions.

Perfect Commerce develops and sells cloud-based, technology-led, spend management solutions for the public and private sector markets. It has complementary territorial reach with extensive international capabilities serving approximately 150 customers, with over 1.3 million users across more than 80 countries, 20 languages and 100 currencies.

The Travers Smith team was led by Corporate Partner Adrian West, who was assisted by Senior Associate Tom Coulter and Associate Lucy Stephenson.

PROACTIS was advised by Walker Morris and Quarles & Brady.

Perfect Commerce was advised by Williams Mullen.

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