Travers Smith LLP has advised long-standing client TA Associates and management shareholders on the sale of a majority stake in ITRS Group (ITRS), a leading global provider of real-time monitoring and analytics software, to Montagu Private Equity LLP. TA Associates will retain a minority stake in ITRS going forward.
ITRS’ software portfolio supports the “always on” enterprise, ensuring operational resilience for businesses operating in environments where technology failure means business failure. Headquartered in London, the company has established itself as an innovative and trusted partner, and today has over 3,000 clients across the globe, including nine out of the ten Tier 1 investment banks. In addition, its recent acquisition of Uptrends, a Netherlands-based website and web performance monitoring solution, (on which Travers Smith advised ITRS) has further strengthened ITRS’ product suite.
Guy Warren, CEO of ITRS, said: “We are delighted to welcome Montagu into ITRS Group. Under TA Associates’ ownership, we have broadened our product suite and significantly expanded our customer base, and we thank them for their continued support. The Montagu team have shown a strong understanding of our business and its potential, and share our ambitions, and we are excited to partner with them for the next stage of growth.”
The Travers Smith team was led by Private Equity & Financial Sponsors Partners Ian Shawyer and Jim Renahan alongside Senior Associate Tom Hartwright, assisted by Associates Tom Lloyd and Henry Don and Trainee Josh Morrison. In respect of their reinvestment alongside Montagu, Partner Adam Orr and Senior Associate Matt Powrie advised TA Associates and Partner Emma Havas and Associate Caleb Jones advised management. Tax advice was provided by Partner Hannah Manning and Associate Katherine Williamson.
The transaction is subject to customary closing conditions and regulatory approvals.
Montagu was advised by Freshfields LLP.
