Our Corporate team have advised the shareholders of GDFM Limited (“GDFM”) on its sale to Belgian company, Projective Holding NV.

Operating from its premises in Cardiff and London, GDFM is a boutique management consultancy providing business consulting and managed service solutions to support clients across risk advisory and regulatory compliance. GDFM was founded by Paul Saunders and Jon Szehofner in 2016 and throughout the company’s success, it has placed an emphasis on providing opportunities for young talent and their career development. GDFM ensures that employees are trained through their in-house bespoke training academy to ensure continuous improvement and excellent client service.

Ellisons were delighted to guide and support Jon and Paul throughout the sale process. Following completion Paul Forsyth, Partner and Head of the Corporate and Commercial team commented: “This sale was challenging for a number of reasons including the incredibly tight timeframe between signing heads of terms and signing the SPA, as well as undertaking a review of an existing EMI Option Scheme and arranging for careful exercise of the same prior to completion, with some option holders requiring accelerated vesting. However, the team greatly enjoyed working with Jon and Paul and we’d like to wish them and GDFM the very best for the future.”

Supporting Paul Forsyth throughout were Abigail Williamson (Associate Solicitor, Corporate), Rachel Frost (Solicitor, Corporate) and Tina Maxey (Associate Solicitor, Employment). Tax advice was provided by Robert De La Rue, Tax Technology Partner at RSM.

Following completion Jon Szehofner commented: “We wanted a trusted partner with shared values to help further grow our business in the UK and internationally. It is clear to me that Projective Group has the scale and capacity to make that happen. Ultimately, the alignment of culture and increased opportunities for our people were critical in making this decision. We firmly believe in the combined mission of Projective Group and GDFM, and we are excited and committed to be on the journey together.

I would also like to thank Ellisons and RSM who have expertly supported us throughout this transaction.  We have been extremely satisfied and couldn’t recommend their services highly enough.”

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