Castle Corporate Finance Limited (“Castle”) has advised the shareholder of Lexxic Limited (“Lexxic”, and its associated companies – the “Group”) in relation to the sale of the Group to Agathos Management LLP (“Agathos”).
Lexxic is a UK-based provider of neurodiversity services to corporates, and partners with medium and enterprise customers to create Neurodiversity Smart™ workplaces, delivering psychological support services to neurodivergent talent within corporate environments. With a team of over 100 people (including more than 50 in-house psychologists), the business incorporates individual assessments, e-learning and consulting services, all wrapped within its industry-leading Neurodiversity Smart™ accreditation scheme.
Lexxic was founded by Nicola James in 2007, and will continue to be led by the existing management team, headed by CEO, Kate Goodanew, to accelerate growth through the expansion of existing and new services.
Agathos’ investment will help accelerate Lexxic’s growth by expanding and enhancing services, and by investing into the tech-enablement potential of the business to support Lexxic’s high-quality psychologists deliver an exceptional service.
The Castle team (led by director, Victoria Ansell, and assisted by Senior Manager, Alex Nursey) was introduced to the transaction by Agathos, and worked closely with all parties to reach an optimal solution.
Nicola James commented: “I am so grateful for the support given by Victoria Ansell and the team at Castle Corporate Finance, alongside Kiran Dhesi and the Shoosmiths team. I found my interactions with Victoria and Kiran heartfelt during a stressful and comprehensive transaction. It was not the easiest of processes, but I am so happy these ladies were at the helm to guide and support me in the sale of Lexxic to Agathos. I am forever grateful.”
Kate Goodanew, CEO, also commented: “We are thrilled to announce this investment from Agathos, which presents a fantastic opportunity for Lexxic to accelerate our growth and increase our impact on the lives of the individuals we support. This investment will enable us to maintain high-quality neurodiversity services and explore new avenues for growth, impact, and innovation. The support received from the Castle team, most notably Victoria Ansell and Alex Nursey was fantastic, they supported us to navigate all parts of the process and ensured that all key stakeholders were aligned and on track. In addition, the support from the whole Shoosmiths teams was invaluable and their expertise shone through.”
James Bakewell, who led the transaction for Agathos, and will join the Lexxic board alongside Chanelle Jones, added: “We are delighted to be partnering with Kate and the team at Lexxic. In an underserved, fast-paced growth market, Lexxic has developed a market leading position through its psychologist-focussed solutions for corporates who seek understanding, coaching and practical input to address the needs of neurodiverse talent in the workplace. We look forward to accelerating the business’s reach and impact, and developing data and tech-enabled propositions to better serve Lexxic’s current and future customers.”
Castle director, Victoria Ansell, added: “We are delighted to have helped secure this transaction for all involved, allowing not only an exit for Nicola, but also investment and backing for Kate and her team to take the Group forward and to fulfil its potential. It was a huge team effort by everyone to get to this point, and a pleasure to work with Kiran and her team, as well as the teams at Blick Rothenberg and Stephenson Harwood. Lexxic is a great business, and I have no doubt it will thrive with Agathos’ support.
Kiran Dhesi, Partner, Shoosmiths commented: “It is fantastic to support Nicola, and the senior leadership team of Lexxic on the investment by Agathos. The transaction relied upon the hard work and expertise across multiple advisors, including our management advisory team, and the invaluable support from the Castle and Blick Rothenberg teams. This investment will no doubt lead to continued growth for Lexxic in the neurodiversity sector, and we look forward to supporting on its journey.”
Nicola James was advised on the transaction by Castle Corporate Finance Limited (Victoria Ansell, Alex Nursey), with legal advice from Shoosmiths LLP (Kiran Dhesi, Lawrence Renny, Laura Board), and Blick Rothenberg (Genevieve Morris, Matthew Crawford). The management team were also supported by Shoosmiths LLP and Lexxic received advice from Loch Law (Joe Milner).
Agathos was advised by Stephenson Harwood (legal), Fairgrove (commercial), Crowe (financial and tax due diligence), Grant Thornton (tax structuring), Continuum (organisational), CG Consultancy (IT due diligence).
