Press release

Dorsey Represents Dunstan Thomas Group Limited in Sale to Curtis Banks Group PLC

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Dorsey & Whitney’s London Corporate team represented the shareholders of Dunstan Thomas Group (DTG), a leading fintech provider delivering technology and market leading business solutions, for wealth managers, platforms and providers, on the sale of DTG to London Stock Exchange listed, Curtis Banks Group PLC (CB).

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The Dorsey London Corporate team, led by Partner Fabrizio Carpanini advised on the sale of DTG to Curtis Banks Group. (Photo: Dorsey & Whitney LLP)

The Dorsey London Corporate team, led by Partner Fabrizio Carpanini advised on the sale of DTG to Curtis Banks Group. (Photo: Dorsey & Whitney LLP)

The share purchase agreement was exchanged in the early hours of 23 July 2020, with the closing scheduled for 3 August 2020. The total consideration for DTG is up to approximately £27.5 million, including an earn-out element.

Curtis Banks is one of the UK’s largest independent SIPP and SSAS (personal pension) operators, and the acquisition of DTG is seen as the latest demonstration of CB’s determination to deliver growth through organic, acquisitive and diversified means. CB has been a key client of DTG for many years and so CB were seen as an ideal choice for DTG, which has been an independent business for 34 years.

While the discussions on the sale began prior to the COVID-19 restrictions, the major part of the transaction, including the due diligence and SPA negotiations, fell squarely into the period of lockdown in the UK making it a particularly challenging process.

The Dorsey London team, led by Partner Fabrizio Carpanini (M&A) began advising the key shareholders of DTG on its potential sale over 12 months ago and has provided strategic advice to DTG and the senior management team throughout a lengthy sale process. Chris Read Founder and CEO of DTG said, “The Dorsey team, led by Fabrizio, were instrumental in helping to guide us through this complex legal process and kept the deal on track during a lengthy timeline, made all the more challenging in the present environment. They helped us achieve a great result for the business and its shareholders.”

The Dorsey Corporate team also included London Partner, Michael Cashman, Associate Luk Trewhela and Trainee Solicitor Luke Redstone.

About Dorsey & Whitney LLP

Clients have relied on Dorsey since 1912 as a valued business partner. With locations across the United States and in Canada, Europe and the Asia-Pacific region, Dorsey provides an integrated, proactive approach to its clients’ legal and business needs. Dorsey represents a number of the world’s most successful companies from a wide range of industries, including leaders in banking & financial institutions, development & infrastructure, energy & natural resources, food, beverage & agribusiness, healthcare and technology, as well as major non-profit and government entities.