We are delighted to have advised Giglets Limited on their sale to ILT Education AB.
Giglets is an online K-12 literacy resource educational technology (EdTech) company, delivering cloud-based educational solutions through a SaaS revenue model to around 400 schools across the UK. A scaled down version of the platform is free-to-use to over 40,000 educators in over 60 economic deprived countries.
During 2021, the founders took the collective decision that to fully exploit the market opportunity that Giglets faced, it would be better served as part of a larger international group.
We have supported Giglets in its growth journey over the last three years, first establishing contact with the EdTech company with early-stage start-up support.
We agreed to run the marketing process to a limited number of UK and European buyers. Our focus was to find buyers that share similar ethos and can be a strong cultural fit.
ILT have no presence in the UK, but have identified this as a key market for them. Giglets customer base offer great cross selling opportunity for their products, and the platforms are also very complementary.
Crucial to delivering a strong outcome for the shareholders was our close hands-on approach throughout the process, specifically in relation to financial analysis, the due diligence process and deal negotiations, which removed much of the burden associated with selling a business and allowed the founders to continue focusing on driving growth.
Working with Neil and the team at Grant Thornton has been a pleasure and ensured that we had appropriate, professional, and sage advice throughout leading all parties involved to reaching a successful conclusion. I look forward to continuing to lead the business in the next phase of our growth journey, whilst remaining focused on delivering world-class teaching and learning experiences for our customers and users.Craig Johnstone CEO and Co-founder, Giglets Limited