Evelyn Partners in Bristol has acted as lead advisor to the shareholders of Scholarcy, a streamlined and user-friendly study tool that helps students and researchers to organise, summarise and critically evaluate sources, in its acquisition by Texthelp.
This strategic acquisition expands Texthelp’s suite of study support tools for students across UK Higher Education. By bringing together expertise and resources, Texthelp will be aiming to take Scholarcy to the next level, expanding its reach and impact. The acquisition marks a significant step towards fulfilling Texthelp’s vision of improving the literacy and understanding of 1 billion people by 2030.
Texthelp’s purpose is to help people to understand and be understood. Phil Gooch, co-founder and CEO of Scholarcy, shares this vision. Since founding the company in 2018, over half a million students and researchers have used Scholarcy to read and understand academic texts.
Phil added: “I’m very proud of what we have achieved with Scholarcy, and I’m excited to continue its evolution as we partner with Texthelp. Our shared goal is to make the world’s knowledge more accessible to everybody. Together, we can bring the benefits of this tool to more students and researchers than ever before.”
“The Texthelp team is thrilled to welcome Scholarcy to our brand family. Scholarcy offers an exciting new dimension to our higher education portfolio, giving more choice to students with additional learning needs,” said Rick Bell, SVP of International Education at the Texthelp Group.
The corporate finance team at the Bristol office of Evelyn Partners, the leading wealth management and professional services group, acted as lead advisor on the transaction, led by Alex Sowerby and Iain Lownes.
On working with Evelyn Partners, Phil said: “The whole team at Evelyn pulled out all the stops and still somehow made this a personal, rewarding experience. As advisers Evelyn always maintained a sense of calm and control, clearly explaining the strategy they would be deploying with our full input. Evelyn put everything into this project and delivered a fantastic result.
“Alex and the Evelyn Partners team had a thorough understanding of our sector, and we had total trust in their abilities throughout. We really enjoyed working with the team on a personal level and wouldn’t hesitate in recommending Alex to any technology or Edtech entrepreneurs considering a transaction.”
“We wish the Scholarcy team all the best as part of Texthelp. Phil and Emma are the latest owner-managers in the tech space we have supported in achieving their strategic objectives. As the fourth technology deal we have completed in four months, Scholarcy reinforces the appetite for UK assets from both domestic and international investors,” said Iain Lownes, Partner at Evelyn Partners.
Legal advice to Scholarcy was provided by Michelmores LLP.
