During the recent sale of Adaero Precision Components Ltd to Indutrade AB Cosworth needed a mechanism to share files with multiple parties in multiple locations. A key requirement was that access to such files would be secure and confidential.
“Rather than shipping files on memory sticks or using generic file sharing sites, we required a truly secure file sharing system that enabled us to share large volumes of documents at ease whilst ensuring our absolute need for confidentiality with this legal transaction”, explained Louise Breen, PA to CEO of Cosworth Group Holdings. “One of our corporate finance advisors highly recommended PROJECTFUSION and we chose them to provide us with a secure virtual data room. We controlled the users and our data was backed up, including a clear audit trail with evidence of the files that each user had accessed.”
Using a virtual data room for the first time was not without apprehension, “We were originally concerned about using an unknown technology but from the moment we engaged with PROJECTFUSION, we were extremely impressed by their expert service and support. Their features such as automatic document indexing made everything so much easier to control and with our trust in their system, Projectfusion helped us progress the transaction quickly and efficiently.”
The move from paper to online processes can be challenging for any company. A key component of PROJECTFUSION is quality customer service, expert guidance and 24/7 support (with a 15 minute response time). Louise Breen says “I cannot fault the service from first interaction to last. Their support is technically first class and product is extremely simple to use – 10 out of 10 for customer service.”
Cosworth employs its motorsport-inspired engineering and manufacturing capabilities to improve vehicle and driver performance. The group supplies electronics and powertrain products and engineering services to high performance vehicle manufacturers, motorsport teams and performance enthusiasts around the world.
Founded in London in 1958, with headquarters in Northampton, the UK group has a globally recognised brand and are world-renowned for their expertise in delivering high power density and overall performance without sacrificing reliability.
All legal transactions such as M&A and Commercial Property sales require a diligent approach. Data deemed sensitive should be protected with robust security and audit controls. PROJECTFUSION have assisted Enterprises, Law Firms, Property Agents and Hedge Funds to conduct legal due diligence online for nearly 15 years.
“The ability to conduct transactions in a secure cloud environment means deals simply close faster. Selling parties are able to leverage market conditions and everyone’s costs are reduced. Online Q&A gives better compliance, and real time usage reports let sellers gauge buyer interest, and rebuff delaying tactics – like, we didn’t see that document, or we can’t ship our advisor over until next week.” says PROJECTFUSION MD, Angus Bradley. “Cosworth are a continuing example of how Enterprises can efficiently and securely conduct their deals in virtual data rooms and it is a pleasure working with them.”
PROJECTFUSION is a trading name of OD Consultancy ltd. OD has been providing secure hosting and related services since 1997.