Slaughter and May is acting for funds advised by Pollen Street Capital on the sale of Target Group to a wholly-owned subsidiary of Tech Mahindra Limited for an enterprise value of £112 million. Target Group is a leading provider of business process outsourcing and software solutions for over 50 major financial institutions across the globe, including clients such as Goldman Sachs, Morgan Stanley, Credit Suisse, Barclays and Shawbrook Bank. Headquartered in India, Tech Mahindra Limited is listed on the Bombay Stock Exchange and offers IT services, outsourcing and consultancy across 90 countries.

The transaction remains subject to regulatory approval and other customary conditions.

Contacts

Corporate and Commercial: David Johnson (partner), Paul Thorpe (associate); Tax: Jeanette Zaman (partner), Benjamin Wonnacott (associate); Financial Regulation: Jan Putnis (partner), Kristina Locmele (associate)