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Michelmores has advised the shareholders of Scholarcy, an educational technology business, on its sale to Antrim-based Texthelp.
Scholarcy is a study tool that helps students and researchers to organise, summarise and critically evaluate sources. Founded in 2018 by Phil Gooch and Emma Warren-Jones, the business has now helped over half a million students and researchers worldwide read and understand academic texts.
This strategic acquisition expands Texthelp’s suite of study support tools for students across UK Higher Education and will help significantly expand Scholarcy’s reach and impact. The acquisition also marks a significant step towards fulfilling Texthelp’s vision of improving the literacy and understanding of 1 billion people by 2030.
The Michelmores team advising on the deal was led by Partner Harry Trick, alongside Senior Associate Adam Marques-Quint and Solicitor Dan O’Sullivan, all from the Firm’s Corporate Team. Partner Cathy Bryant and Senior Associate Anthony Reeves advised from a tax perspective, and Senior Associate Philippa Collison provided commercial and data protection support.
Emma Warren-Jones commented:
“Harry and the team at Michelmores inspired confidence right from our first introduction. They helped us navigate the complexities of the due diligence process, providing clarity and reassurance throughout. Always responsive and approachable, the team were on top of every detail and provided clear answers to all our questions, however small. We had complete trust in Michelmores and wouldn’t hesitate to recommend them to any other business entering a transaction.”
Harry Trick added:
“It was a pleasure to work with Phil and Emma on this transaction. They have built a fantastic business and we are looking forward to seeing how Scholarcy can make even more of a positive impact with the support of Texthelp.”
Other advisors on the transaction were Evelyn Partners (lead corporate finance advisors to the sellers), Nixon Peabody LLP (US legal advisors to the sellers), Shoosmiths LLP (legal advisors to Texthelp) and Debevoise & Plimpton (US legal advisors to Texthelp).
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