Macdonald Henderson advises on disposal of Ping Network Solutions to Sword Group
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Laura McKnight
Macdonald Henderson, led by corporate director Laura McKnight, has advised the shareholders of Ping Network Solutions on the disposal of the company to Luxembourg-based Sword Group.
Ping is a systems integrator & managed service provider that was founded in 2010. Having worked in the industry for many years, the Ping team felt that the Scottish market deserved a more focused solutions provider with quality engineers that would be based locally.
Sword UK employs 430 staff and more than 100 contractors with primary locations in Aberdeen, Glasgow, London, Houston, and Rijswijk - to which it will now add Ping’s offices in Glasgow, Bellshill and Aberdeen.
The deal, for an undisclosed sum, should let Sword offer its clients a “complete range of solutions” – adding to its existing work on data insights, digital transformation and software development.
Ping forecasts a revenue of about €13m for 2022.
The Ping team commented: “The support we’ve had from Macdonald Henderson and Laura McKnight throughout this has been second to none. Laura has guided us through the process from start to finish to ensure we correctly represent the business and conducted this in the same professional manner we’ve undertaken throughout the course of running the business.
“Laura was always on hand before, during and after the due diligence process to ensure our interests were correctly represented, to explain any complex components and ultimately keep us motoring along efficiently to the successful completion of the deal. It has been a great help to have someone as experienced in our corner, as it’s not a transaction process we’d done before so the level of professional expertise, care and attention to detail applied to our engagement gave everyone the comfort that we were in good hands and making the best decisions.”
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