Case study

UK: Nexia Saffery Provides Financial Due Diligence Services on Strategic Acquisition

Intellica is a UK-based data management and consultancy services provider, specialising in the pensions and financial services sectors. In 2024, Intellica undertook its first acquisition with the purchase of Cosan Consulting – a business recognised for its optimisation solutions in the employee benefits consultancy space. The acquisition was a strategic move designed to enhance Intellica’s service capabilities and strengthen its market presence.

The client challenge

As a first-time acquirer, Intellica faced a number of challenges in navigating the complexities of a corporate transaction. The leadership team needed to ensure they had a detailed understanding of the financial and operational health of the target business while also managing funding arrangements and internal decision-making. Given their limited prior experience with mergers and acquisitions, they required support across multiple dimensions – from evaluating the financial viability of the acquisition to understanding the implications of debt covenants and the future cash flow position.

The solution

Nexia Saffery’s Transaction Services team, led by Hayley Brightmore‑Cox and Erin Berry, delivered comprehensive financial due diligence tailored to Intellica’s specific requirements. The team worked closely with Intellica’s leadership throughout the process to ensure that key commercial and financial considerations were fully understood. The due diligence exercise provided detailed analysis of historic trading, working capital requirements, and forecast performance, as well as highlighting any potential risks that could impact the success of the transaction.

In addition to the core diligence, Nexia Saffery also advised on the implications of funding arrangements, particularly with respect to debt covenants and their interaction with projected cash flows.

The Nexia value

By providing clear, practical and commercially relevant insights, Nexia Saffery gave Intellica’s board and funders the confidence required to proceed with their first acquisition. The detailed financial analysis enabled the leadership team to fully understand the business they were acquiring, and to plan effectively for post-deal integration and growth. Nexia Saffery’s ability to navigate complex financial structures and explain the implications in a straightforward way proved invaluable in maintaining momentum throughout the deal.

Their proactive and collaborative approach to stakeholder coordination ensured that key milestones were met on time, and that potential issues were addressed early.