Published on the 22/05/2013 | Written by Newsdesk
Management buy-out will see Davanti continue to operate as a strategic partner based within Gen-i premises…
The IT managed services company owned by the Telecom Group has announced that it has signed a conditional agreement to transfer ownership of Davanti Consulting’s New Zealand operations to Davanti’s principal consultants Justin Hamilton, Matt Farrar and Robert Carter through a management buyout. The transaction is expected to settle on 31 May.
According to a statement under the new arrangement Gen-i will shed the cost of operations while retaining the benefits of a collaborative working partnership and Davanti will gain the added independence beneficial for a consulting business. The ties are likely to remain close, however, as Davanti plans to continue operating from Gen-i’s premises in Auckland and Wellington.
Gen-i CEO Tim Miles says: “It makes sense for both Davanti and Gen-i to move this part of our business to independent ownership. Davanti is a great business, developed from the ground up by some very talented people. It’s fitting that they will now own the business they have built so successfully. Gen-i will continue to partner with Davanti to leverage their expertise for the benefit of our clients.”
Davanti principal consultant Robert Carter says: “Having established the Davanti business nearly six years ago, we are genuinely excited by the opportunity to lead the business forward to the next stage of growth. We have a strong client base that trusts us explicitly, and we will continue to leverage our experience, energy and talented people to accelerate the delivery of positive outcomes for both new and existing clients.”
