P.ublished 30th November 2021
business
Forbes Solicitors Supports Global Acquisition Of Cloud Commerce Group
Forbes Solicitors has advised on the sale of Lancaster-headquartered Cloud Commerce Group (CCG) to global creative transformation company WPP.
CCG, which was set up in 2008 and provides eCommerce solutions to retailers and wholesalers internationally, was acquired for an undisclosed sum by WPP.
WPP operates in 110 countries around the world, generating annual revenues of around £12bn via a network of companies involved in sectors such as media, data and insight, public relations and health and wellness.
The company’s acquisition of CCG will help strengthen its Wunderman Thompson Commerce technology proposition and is aligned with its accelerated growth strategy, which focuses on Mergers & Acquisitions (M&As) to build on existing capabilities.
Forbes Solicitors’ Corporate team worked closely with CCG to support the acquisition, which was driven by the software company’s expertise and success in Order Management Solutions (OMS).
OMS solutions are used by retailers and wholesalers to manage the sale of goods across multiple different platforms and marketplaces, with CCG a global leader in this field. The company’s platform delivers more than £1bn per year in GMV and CCG is renowned for having more 5-star reviews than any other multi-channel eCommerce software businesses.
CEO and joint-founder of CCG, Mark Hallam, said: “This is a particularly momentous and exciting time for Cloud Commerce Group and Lancaster. Becoming part of a global network will create new opportunities for growth and innovation and shows that market-leading businesses and teams flourish in Lancashire.
“Being part of WPP will lead to collaboration with experts across Europe and internationally, and we’re very much looking forward to building on CCG’s success to date.”
Mark Read, CEO of WPP, said: “I’m delighted to welcome CCG to WPP. With over £1bn revenue transacting through the platform, CCG already has demonstratable scale and success in delivering positive outcomes for clients and managing multiple channels in complex commerce scenarios. The acquisition is part of our ongoing investment into building a range of commerce offerings to serve our clients and help them deliver growth, and I’m excited about how we can integrate and expand this solution over the coming months.”
Forbes Solicitors had previously worked together with CCG in 2019, when the Corporate team supported the company’s acquisition of Channel Grabber Ltd. Jenny Burke, a senior associate in Forbes Solicitors’ Corporate team advised on the 2019 deal and the recent acquisition by WPP.
Mark Hallam concluded: “We already knew Jenny Burke and the Corporate team at Forbes Solicitors and had absolute confidence that they would have the expertise, insight and work ethic to support us with the sale of CCG.”
CCG was founded by company directors Mark Hallam and Stuart Forrest. The company has 100 employees working across offices in Lancaster and Manchester.