The investment, subject to regulatory requirements, will see Exponent Private Equity, which has supported Isio since its inception in March 2020, exit its investment in the business. A long-standing client of the firm, Macfarlanes advised Exponent on the original acquisition of Isio from KPMG, as one of the first spin-outs of a team from a big 4 accountancy firm.

The Macfarlanes team was led by corporate and M&A partner Alex Edmondson with assistance from senior associate Alice Temkin and associate Francesca Bird. Tax advice was provided by senior counsel Shaul Steinberg and associate Edmond James. Further advice was provided by commercial partner Rosie Duckworth and associates Cliodhna Ni Ghadhra and Alishea Patel and regulatory partner Alexandra Green and associate Eugina Kwon. Advice on the financing elements was provided by partner Kirstie Hutchinson, senior counsel Pinar Celebi and associate Natasha Ahmed.