The company
Carruthers and Jackson was one of the UK's leading data consultancies, founded by Caroline Carruthers and Peter Jackson. The business helped organisations around the world maximise the value of their data while maintaining ethical and secure governance, working with major clients across industries to define and deliver data-enabled transformation.
Caroline Carruthers brought rare credibility to the work. She is an award-winning data expert, published author, and one of the first women in the UK to hold the role of Chief Data Officer. Under her leadership, Carruthers and Jackson built a reputation as a firm that combined strategic rigour with people-first values.
The challenge
The initial exit conversation didn't start with a plan. It started with disappointment.
A larger organisation had approached Carruthers and Jackson with what appeared to be a strong acquisition offer. Caroline and the team committed fully for six months, only for the deal to collapse without completion. It was a major setback, and one that could easily have resulted in stepping back from the idea of exiting altogether.
Instead, it had the opposite effect. Caroline decided to approach the process properly this time, with the right support behind her. Early conversations with other advisory firms didn't inspire confidence. The approaches were formulaic, traditional, and didn't fit the way she thought or worked. She knew she needed something more personalised. An adviser who would prioritise her comfort and red lines, not just the mechanics of getting a deal across the line.
She found that in The Grafter.
Engagement with The Grafter
The Grafter worked directly alongside Caroline and the team throughout the entire process. The engagement covered:
- Full data room built from scratch
- Deal structuring advice tailored to a partial exit rather than a clean break
- Active support negotiating the specifics of the transaction
- Consolidation of existing lawyers and accountants into a single, coordinated team familiar with each other and the deal
- Honest, direct advisory on red lines, priorities, and what a good exit outcome looked like for Caroline personally
- Structuring of a secondary exit plan targeting a further 8-figure deal in 2027/28
The outcome
On 18 May 2023, Carruthers and Jackson merged with Praesto Consulting Group, a global technology consultancy, in a 7-figure deal. The merger combined Carruthers and Jackson's data strategy and assessment capabilities with Praesto's end-to-end technology consultancy services, creating a global data consulting proposition with offices spanning the UK, US, and Europe.
Caroline remained as CEO post-merger, continuing to lead the firm's consultancy and events offerings. Peter Jackson continued in his role as co-presenter of the annual Summer School for Data Leaders.
A secondary exit is structured and targeted for 2027/28, expected to deliver a further 8-figure return.
Carruthers and Jackson came to The Grafter after six months wasted on a deal that went nowhere. Within months, they had a completed partial exit, a continued leadership role, and a secondary exit structured for 2027/28. If you're navigating a similar situation, it's worth a conversation with our team.
Work with somebody who can guide you through understanding what you really want to get out of it and being honest with yourself. If you can start from that point, it's much easier going forward, because you know what your red lines are and what you're really after.
